Gold Price Sees Modest Recovery After Rs. 10,200 Per Tola Decline Over Five Days
After a sharp five-day decline, gold prices in Pakistan recorded a modest gain on Wednesday, bringing some relief to investors and traders in the bullion market. According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24 karat gold increased by Rs. 300 per tola, reaching Rs. 355,000 compared to Rs. 354,700 on the previous day.
Modest Uptick Following Steep Decline
In the past week, gold prices plunged by Rs. 10,200 per tola, creating uncertainty in the local bullion market. This recent increase of Rs. 300 marks the first positive shift after five consecutive sessions of decline.
Latest Gold Prices in Pakistan
| Category | Previous Price | Current Price | Change |
|---|---|---|---|
| 24 Karat Gold (Per Tola) | Rs. 354,700 | Rs. 355,000 | ↑ Rs. 300 |
| 24 Karat Gold (10 Grams) | Rs. 304,098 | Rs. 304,355 | ↑ Rs. 257 |
| 22 Karat Gold (10 Grams) | Rs. 278,757 | Rs. 278,992 | ↑ Rs. 235 |
| Silver (Per Tola) | Rs. 3,963 | Rs. 3,963 | No Change |
| Silver (10 Grams) | Rs. 3,397 | Rs. 3,397 | No Change |
International Market Movement
In the global market, the price of gold also witnessed a slight increase. The international gold rate rose by $3, going from $3,320 to $3,323 per ounce. Meanwhile, silver prices remained stable at $37.90 per ounce, showing no change from the previous session.
Market Sentiment and Future Outlook
The recent decline in gold prices had sparked concern among investors, many of whom viewed it as a potential buying opportunity. Now, with this minor uptick, the market remains cautiously optimistic. Traders are closely monitoring both international trends and local demand to predict future movements.
Stability in Silver Prices
Unlike gold, silver rates have remained unchanged in both local and global markets, indicating lesser volatility in the silver trade compared to gold.
Conclusion
After a significant fall of Rs. 10,200 per tola over five days, gold has finally shown signs of recovery with a Rs. 300 increase per tola. Though the rise is modest, it has provided a psychological boost to traders and investors in Pakistan’s precious metals market. Market watchers suggest keeping an eye on global economic indicators and central bank policies, which often influence precious metal prices.
