After experiencing a decline in the previous two sessions, gold prices in Pakistan witnessed an uptick on Wednesday, defying the trend of a global decrease.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs400, reaching Rs241,000. Meanwhile, the price of 10-gram gold increased by Rs343, settling at Rs206,619.
In a contrasting turn of events, gold prices had plummeted by Rs900 per tola on Wednesday, closing at Rs240,600. This fluctuation comes despite the international gold rate experiencing a decrease on Thursday.
The global price of gold fell by $9 per ounce, positioning it at $2,304 per ounce (inclusive of a $20 premium), as reported by the APGJSA.
While gold prices demonstrated volatility, silver rates remained steady. The price of silver stood unchanged at Rs2,850 per tola.
It is noteworthy that back in April, the local market recorded an all-time high for gold prices, with rates soaring to Rs252,200 per tola. This recent oscillation in gold prices highlights the complex dynamics between local and international markets, as investors navigate through fluctuating economic signals.
