Gold prices in Pakistan surged sharply on Saturday as international bullion markets staged a strong recovery. The rebound pushed local gold rates back above the key Rs519,000 per tola level after a steep decline a day earlier.
In the domestic market, gold per tola jumped by Rs11,700 to settle at Rs519,462. At the same time, the price of 10 grams of gold increased by Rs10,030 to reach Rs445,354. The rise reversed Friday’s heavy losses when gold prices had dropped by more than Rs21,000 per tola.
Silver prices also moved higher alongside gold, reflecting improved sentiment in the precious metals market. The price of silver per tola rose by Rs444 and closed at Rs8,269 in the local market. The recovery followed aggressive selling earlier in the week that had pushed prices lower.
International gold prices played a decisive role in lifting local rates. Spot gold rebounded strongly and climbed to $4,954.92 per ounce after a volatile trading session. The metal recovered most of its previous losses and remained on course for a weekly gain despite sharp intraday swings.
The global rebound was supported by bargain hunting from investors and a slightly weaker US dollar. The decline in the dollar made gold cheaper for international buyers, which helped revive demand across major markets. At the same time, uncertainty surrounding diplomatic developments increased cautious positioning among traders.
Market sentiment remained mixed despite the rebound. Investors continued to monitor geopolitical risks and broader economic signals closely. While buying activity returned, analysts noted that sustained gains would require stronger momentum or a major external trigger.
Gold’s role as a safe-haven asset continued to attract interest amid global uncertainty. However, heightened volatility kept traders cautious, limiting aggressive positioning. Price movements remained sensitive to currency fluctuations and investor sentiment.
In Pakistan, gold prices are expected to continue tracking international trends closely. Changes in global bullion rates and currency movements will likely influence local prices in the coming sessions. For now, the sharp rebound has restored short-term confidence in the domestic bullion market, although volatility remains a key risk.
