KARACHI: Gold prices in Pakistan rebounded sharply on Friday, June 12, with the price of the precious metal climbing above Rs440,000 per tola after a steep decline in the previous trading session.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased by Rs7,250 per tola, taking the new rate to Rs440,966.

The price of 10 grams of 24-karat gold also rose by Rs6,525, reaching Rs375,947.

Silver prices moved higher as well, with the per tola rate increasing by Rs190 to settle at Rs7,079.

The recovery comes a day after gold prices fell below Rs433,000 per tola following a sharp Rs9,720 decline, with the rate settling at Rs432,716 on June 11.

Gold Prices Fall Below Rs433,000 Per Tola After Sharp Rs9,720 Drop

The latest increase has recovered a substantial portion of those losses, reflecting continued volatility in the bullion market.

Similarly, the price of 10 grams of gold had declined by Rs8,748 on Thursday to Rs369,422 before rebounding in Friday’s trading session.

Market experts say local gold prices are influenced by trends in international bullion markets, currency fluctuations, investor sentiment and global economic developments.

The recent swings in gold prices highlight the sensitivity of precious metals to changing market conditions, as investors continue to monitor global economic and geopolitical developments that affect demand for safe-haven assets.