Gold prices experienced a significant rise on Thursday rebounding strongly after a slight dip the previous day.
Globally, the price of gold also saw an upward trend in the international bullion market, with the per ounce rate rising by $25, reaching $2,913.
According to the Sarafa Association, the price of per tola gold surged by Rs2,500, reaching Rs304,000, while the price of 10 grams increased by Rs2,144, bringing it to Rs260,631 in the local market.
In addition to gold, silver prices in Pakistan also experienced a rise. The per tola rate increased by Rs55 to reach Rs3,367, while the price of 10 grams went up by Rs47, standing at Rs2,886.
Gold rose on Thursday, supported by a weaker U.S. dollar and growing worries over U.S. President Donald Trump’s tariff plans, which could heighten global trade tensions, while investors eyed another set of inflation data.
Spot gold added 0.3% to $2,913.38 per ounce as of 0935 GMT, moving back towards its record peak of $2,942.70 hit on Tuesday. U.S. gold futures firmed 0.4% to $2,940.90.
A line chart titled “Spot gold price in USD per oz” that tracks the metric over time.
On Wednesday, gold prices fell more than 1% after stronger-than-expected US consumer price index for January, but rebounded later as ongoing trade war uncertainties kept the safe-haven metal’s demand intact.
