Gold and silver prices in Pakistan rose sharply on Tuesday, following gains in the international market.
According to the All Pakistan Sarafa, Gems and Jewellers Association, the price of per-tola 24-karat gold increased by Rs24,000, reaching Rs514,362, while 10 grams of gold rose to Rs440,982 after a rise of Rs20,576.
In the global market, gold surged by $240, reaching $4,916 per ounce.
Silver prices also increased, with one tola reaching Rs9,146, up Rs741 from the previous rate.
This rise comes after a sharp decline on Monday, when per-tola gold fell by Rs21,500 to Rs490,362, 10 grams of 24-karat gold dropped by Rs18,433 to Rs420,406, and 10 grams of 22-karat gold fell by Rs16,897 to Rs385,386. Internationally, gold prices had decreased by $215 to $4,676 per ounce on Monday.
Similarly, silver had lost value on Monday, with per-tola silver decreasing by Rs601 to Rs8,405 and 10 grams dropping by Rs516 to Rs7,205. International silver prices also declined by $6.01 to $79.30 per ounce.
Traders attributed Tuesday’s rebound to renewed global demand and fluctuations in international precious metal markets.