Gold prices surge by Rs3,500/tola in Pakistan after record drop

After a historic slump just a day earlier, gold prices in Pakistan surged sharply on Wednesday.

According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold rose by Rs3,500 per tola, reaching Rs419,862. Similarly, the price of 10 grams of gold increased by Rs3,000, bringing it to Rs359,963.

The rebound mirrored an upward trend in the international bullion market, where gold prices climbed by $35 per ounce to $3,975.

Silver prices also followed suit. The price of per tola silver jumped by Rs110, reaching Rs5,034, while 10 grams of silver rose by Rs94 to Rs4,315. In the global market, silver was trading at $47.72 per ounce.

Market analysts attribute the sudden reversal to renewed investor interest in precious metals amid ongoing global economic uncertainty and fluctuating currency trends.