KARACHI: Gold prices in the local market bounced back after several days of decline, with the price of 24-karat gold per tola rising by Rs2,500 in a single day, now standing at Rs357,600.
This jump comes after a cumulative drop of Rs4,600 over the past three sessions, signalling a strong recovery for the precious metal.
Gold Price in Pakistan
The data reveals the daily trend over the last few days. On July 9, the per tola rate was Rs351,500. It gradually climbed over the following days Rs354,700 on July 10, Rs357,000 on July 11, and Rs358,100 on July 12.
The price continued its upward path, hitting Rs359,700 on July 14 and maintaining a steady Rs359,000 on July 15. On July 16, however, the rate dropped slightly to Rs356,000. Overall, the trend reflects a steady climb with minor day-to-day changes.
Gold Price Chart:
- 16 July: Rs356,000
- 15 July: Rs359,000
- 14 July: Rs359,700
- 12 July: Rs358,100
- 11 July: Rs357,000
- 10 July: Rs354,700
- 9 July: Rs351,500
Following the same pattern, the price of 10 grams of 24-karat gold increased by Rs2,143 and now stands at Rs306,584. The price for 10 grams of 22-karat gold also rose, reaching Rs281,045 with a gain of Rs1,964.
Silver prices also moved up. A single tola of silver saw a rise of 48 rupees, now priced at Rs4,012, while 10 grams of silver increased by Rs44, reaching Rs3,439.
International Market Update
Globally, gold gained $25 and is now priced at $3,351 per ounce, up from the previous $3,326. Silver also increased by $0.48, now trading at $38.28 per ounce.
According to market traders, the rise in gold prices in Pakistan is largely driven by international trends and renewed buying interest among investors after the recent drop.