Gold prices in Pakistan experienced an upswing on Saturday, bouncing back from recent declines and reflecting a rise in global markets.
In the local market, gold per tola increased by Rs2,000, bringing the rate to Rs284,300. Similarly, the price of 10 grams climbed by Rs1,714, settling at Rs243,741, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This follows a previous drop of Rs800 on Friday, which had brought the price to Rs282,300 per tola.
On the international front, gold also saw gains, with APGJSA citing a rate of $2,748 per ounce (including a $20 premium), up $22 from the previous day.
Silver prices, however, remained steady at Rs3,350 per tola. Earlier in the week, gold had reached a record peak of Rs285,400 per tola.
Analysts attribute the recent surge in gold prices to increasing Middle Eastern tensions and concerns around the upcoming U.S. elections, which have heightened demand for safe-haven investments. Gold is widely regarded as a hedge against economic and geopolitical uncertainties.
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