Gold prices rebound in Pakistan on global gains, economic uncertainty

ISLAMABAD: Gold prices rose in Pakistan on Monday, recovering from losses recorded over the weekend, as higher international bullion prices lifted the local market.

The price of 24-karat gold increased by Rs1,700 per tola to Rs428,436, according to the All Pakistan Sarafa Gems and Jewellers’ Association.

The price of 10 grams of gold rose by Rs1,457 to Rs367,314.

Silver prices also moved higher, with the price per tola rising by Rs54 to Rs6,291, the association said.

In the international market, spot gold gained $17 to $4,060 per ounce, providing support to domestic prices.

The increase follows a sharp decline on Saturday, when the price of gold in Pakistan fell by Rs3,700 per tola to Rs426,736.

Market analysts said gold could remain on an upward trajectory if uncertainty in global financial markets persists, as investors typically turn to bullion as a safe-haven asset during periods of economic and geopolitical instability.

They added that movements in the US dollar, global economic conditions and trends in international bullion markets would remain key factors influencing gold prices in the coming days.

Investors were advised to monitor both domestic and global market developments before making buying or selling decisions, as even modest changes in the international economic outlook can have a significant impact on bullion prices.