Gold recovers losses, rises by Rs1,800 per tola in local market 

KARACHI: Gold prices in Pakistan climbed on Saturday, following an upward trend in the global market that pushed rates higher after a brief dip a day earlier. 

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold rose by Rs1,800 per tola, taking it to Rs433,662. Similarly, the price of 10-gram gold increased by Rs1,543, reaching Rs371,795. 

Just a day earlier, the precious metal had dropped by Rs2,000 per tola, settling at Rs431,862 on Friday. However, renewed gains in international trading helped gold recover those losses. 

Global market support 

The international gold rate also moved up during the day, reaching $4,113 per ounce with a premium of $20. This reflected an increase of $18 from the previous session, according to the association. 

Analysts believe the rise in global prices is linked to renewed investor interest in safe-haven assets amid geopolitical and economic uncertainties. Gold, often seen as a hedge against inflation and currency fluctuations, tends to gain when investors seek stability. 

Silver follows the trend 

The price of silver also registered an increase, rising by Rs57 per tola to settle at Rs5,124. 

Traders said the movement in both gold and silver prices was largely influenced by fluctuations in global markets and the rupee’s value against the US dollar. 

With the current trend, jewellers expect gold prices to remain volatile in the coming days as global factors continue to shape market sentiment.