Local gold and silver markets rebound after earlier losses driven by geopolitical developments and currency strength
KARACHI — Gold prices in Pakistan saw a sharp increase on Saturday, following a rise in global bullion markets, traders reported. In Karachi’s bullion market, the price of 24-carat gold per tola jumped by Rs7,100 to reach Rs533,562, while 10 grams of gold rose by Rs6,087 to Rs457,443.
Internationally, gold gained $71 per ounce, settling at $5,108 per ounce, reflecting strengthened global demand. Silver also recorded gains domestically, with per tola prices climbing by Rs374 to Rs8,948, and 10 grams rising by Rs321 to Rs7,671.
The rebound comes after midweek declines triggered by easing geopolitical tensions and a stronger US dollar. Earlier, gold prices fell more than 2% amid optimistic signs from US-Iran diplomatic talks, dropping below key psychological thresholds. Gold futures for April delivery also recorded losses, while silver and other precious metals mirrored the downtrend. Analysts say the weekend gains indicate renewed investor interest in precious metals as safe-haven assets.
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