Gold and silver prices in Pakistan saw a sharp rise on Tuesday following gains in the international market.
The All Pakistan Sarafa, Gems and Jewellers Association reported that the price of per-tola 24-karat gold increased by Rs24,000 to reach Rs514,362, while 10 grams of gold rose by Rs20,576 to Rs440,982.
On the global market, gold climbed by $240, reaching $4,916 per ounce. Silver prices also went up, with one tola reaching Rs9,146, up Rs741 from the previous rate.
The increase comes after a steep drop on Monday. On that day, per-tola gold fell by Rs21,500 to Rs490,362, 10 grams of 24-karat gold dropped to Rs420,406, and 10 grams of 22-karat gold fell to Rs385,386. Internationally, gold had lost $215 to trade at $4,676 per ounce.
Silver also declined on Monday, with per-tola silver decreasing to Rs8,405 and 10 grams falling to Rs7,205. Global silver prices dropped by $6.01 to $79.30 per ounce.
Traders said Tuesday’s rebound was driven by renewed global demand and fluctuations in international precious metal markets.