Gold, Silver Prices Rebound After Brief Pause in Local and Global Markets

Gold and silver prices rebounded on Saturday after a one-day pause, gaining momentum in both local and international markets.

In the international bullion market, gold prices rose by $117 per ounce, reaching $4,967.

In Pakistan, the price of gold per tola increased by Rs11,700 to Rs519,462, while 10 grams of gold rose by Rs10,030 to Rs445,354.

Silver prices also moved higher, with per-tola silver gaining Rs444 to reach Rs8,269, and 10 grams increasing by Rs381 to Rs7,089.

A day earlier, gold prices had witnessed a sharp decline in the local market. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola fell by Rs21,400 to Rs507,762, while 10 grams dropped by Rs18,347 to Rs435,324.

Similarly, 10 grams of 22-karat gold declined by Rs16,819 to Rs399,061.

Silver prices also trended downward on Friday, with per-tola silver falling by Rs1,430 to Rs7,825, and 10 grams decreasing by Rs1,226 to Rs6,708.

In the international market, gold prices had dropped by $214 to $4,850 per ounce, while silver declined by $14.30 to $73.50 per ounce.

Meanwhile, gold premiums in India more than halved from decade-high levels as sharp price fluctuations discouraged buyers. However, a pullback from record prices helped revive demand in China ahead of the Lunar New Year, according to Reuters.

Bullion dealers in India charged premiums of up to $70 per ounce over official domestic prices this week, including import and sales taxes—down significantly from $153 last week, the highest level recorded since December 2013.