KARACHI – Gold prices in the local market witnessed a rebound, after back to back plunge, with per tola price of 24-karat gold hovering at Rs357,600 after single day gain of Rs2500.
The price hike follows a cumulative drop of Rs. 4,600 over the past three sessions, marking a significant recovery for the precious metal.
Gold Rates in Pakistan
The data shows the price trend over a span of several days in July. Starting from 9th July, the price was Rs351,500, which gradually increased over the next few days, reaching Rs354,700 on 10th July and Rs357,000 on 11th July.
On 12th July, there was a slight increase to Rs358,100. The upward trend continued as the price reached Rs359,700 on 14th July, maintaining a high of Rs359,000 on 15th July. However, on 16th July, the price saw a small drop to Rs356,000. Overall, the data indicates a general upward movement in price with minor fluctuations.
| Date | Price |
|---|---|
| 16-July | Rs356,000 |
| 15-July | Rs359,000 |
| 14-July | Rs359,700 |
| 12-July | Rs358,100 |
| 11-July | Rs357,000 |
| 10-July | Rs354,700 |
| 9-July | Rs351,500 |
In line with the upward trend, the price of 10 grams of 24-karat gold increased by Rs. 2,143, settling at Rs. 306,584. Meanwhile, 10 grams of 22-karat gold were priced at Rs. 281,045 after a gain of Rs. 1,964.
Silver rates also witnessed an uptick. The price of silver per tola rose by Rs. 48 to Rs. 4,012, while the rate for 10 grams went up by Rs. 44 to Rs. 3,439.
On the international front, gold prices advanced by $25, reaching $3,351 per ounce, up from $3,326. Silver followed suit, increasing by $0.48 to trade at $38.28 per ounce.
Traders attribute the rise in domestic gold prices to global market movements and renewed investor interest after the recent dip.
