KARACHI: Gold prices rebounded sharply in global and local markets on Thursday after five consecutive trading sessions of decline, with the international rate rising by $91 per ounce and local prices increasing by Rs9,100 per tola.
The recovery came a day after gold prices in Pakistan had extended losses on July 1, when 24-karat gold fell by Rs5,200 per tola to Rs419,636, while the price of 10 grams dropped by Rs4,458 to Rs359,770. International gold had also slipped by $52 per ounce to $3,972 in the previous session, keeping domestic bullion markets under pressure.
Gold Prices Extend Decline In Pakistan On July 1 As International Bullion Pressure Persists
In the international bullion market on Thursday, gold rose by $91 per ounce, taking the new global rate to $4,063 per ounce.
Following the global rebound, local sarafa markets also recorded a major increase. The price of 24-karat gold rose by Rs9,100 per tola to Rs428,736, while the price of 10 grams increased by Rs7,802 to Rs367,572.
Today’s Gold Rate in Pakistan
| Gold Purity | Per Tola | Per 10 Grams |
|---|---|---|
| 24K Gold | Rs428,736 | Rs367,572 |
| 22K Gold | Rs392,998 | Rs336,941 |
| 21K Gold | Rs375,144 | Rs321,626 |
| 20K Gold | Rs357,280 | Rs306,310 |
| 18K Gold | Rs321,552 | Rs275,679 |
Previous Gold Rate Update
| Gold Purity | Per Tola | Per 10 Grams | Change |
|---|---|---|---|
| 24K Gold | Rs419,636 | Rs359,770 | ↑ Rs9,100 |
| 22K Gold | Rs384,666 | Rs329,139 | ↑ Rs8,332 |
| 21K Gold | Rs367,182 | Rs314,799 | ↑ Rs7,962 |
| 20K Gold | Rs349,697 | Rs299,808 | ↑ Rs7,583 |
| 18K Gold | Rs314,727 | Rs269,828 | ↑ Rs6,825 |
Silver prices also moved higher in local markets. The price of silver increased by Rs203 per tola to Rs6,445, while 10 grams of silver rose by Rs174 to Rs5,525.
The latest increase reflects renewed movement in the international bullion market after several sessions of pressure, which had recently pulled down domestic gold prices in line with global trends.
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