KARACHI — Gold prices in Pakistan surged on Saturday, snapping a multi-day losing streak as global bullion rates moved higher, pushing local market prices upward. The rebound comes after consecutive declines earlier in the week, signalling renewed momentum in gold markets.

According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola increased by Rs2,300 to reach Rs493,162. Similarly, the rate for 10 grams rose by Rs1,971, settling at Rs422,806.

The increase in local prices follows a rise in international gold markets, where bullion gained $23 per ounce to reach $4,708. Analysts say movements in global prices continue to directly influence Pakistan’s domestic gold rates.

Gold prices in Pakistan had been on a declining trend in recent sessions, but the latest increase reflects a shift in global market direction, with investors returning to the metal amid ongoing economic fluctuations.

Gold extends decline as per tola price falls below Rs491,000