Gold and silver prices rebounded in both international and local markets on Saturday, snapping a five-day losing streak as global bullion rates shifted back into positive territory.
In the international bullion market, the price of gold per ounce rose by $23, reaching $4,708. Consequently, the impact was felt in local markets across Pakistan. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola increased by Rs2,300, settling at Rs493,162. The price of 10 grams of gold also saw an upward movement, rising by Rs1,971 to reach Rs422,806.
The silver market mirrored this recovery. In the global market, the price of silver per ounce increased by 92 cents to reach $75.65. This led to a local price hike of Rs92 per tola, bringing the new rate to Rs8,049. Similarly, the price of 10 grams of silver rose by Rs79, closing at Rs6,900.