Karachi, Pakistan – Web Desk: Gold prices rebounded sharply in both international and local markets on Thursday, recovering from previous session losses as escalating geopolitical tensions in the Middle East and the ongoing Venezuela crisis drove investors toward safe-haven assets.
In the international bullion market, gold surged by $36 per ounce to reach $4,113, according to industry data. The rebound follows a $47 decline on Wednesday that had pushed prices down to $4,078, as investors assessed the impact of US military strikes on Iran and the broader regional instability.
Local Market Gains
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that gold prices in the local market rose by Rs3,600 per tola, bringing the rate to Rs433,836. The price of 10 grams of gold also increased by Rs3,086, settling at Rs371,944.
Meanwhile, silver prices remained stable across both global and local markets, with the per tola rate unchanged at Rs6,421 and 10 grams holding steady at Rs5,504.
Weekly Market Overview
Gold has experienced significant volatility throughout the week as investors navigated conflicting signals from geopolitical developments and US economic indicators.
On Tuesday, global gold prices declined by $25 per ounce to $4,125, with local rates dropping Rs2,500 to Rs434,936 per tola. The downward trend continued on Wednesday, when international prices fell $47 to $4,078, pushing local rates down Rs4,700 to Rs430,236 per tola.
The latest rebound comes as investors seek refuge in the precious metal amid ongoing uncertainty surrounding US-Iran tensions, the Venezuela earthquake humanitarian crisis, and broader concerns about global economic stability. Market analysts expect continued volatility in the precious metals sector as geopolitical risks persist.
