Gold prices in Pakistan bounced back on Tuesday, snapping a three-session losing streak and offering some relief to buyers after sharp recent losses.
In the local market, 24 karat gold was sold at Rs514,362 per tola, up by Rs24,000 compared with the previous session. The price of 24 karat gold per 10 grams also moved higher, settling at Rs440,982 after gaining Rs20,576, according to figures shared by the All Pakistan Gems and Jewellers Sarafa Association.
Rates for lower purity gold followed the same trend. The price of 22 karat gold was quoted at Rs404,248 per 10 grams.
Silver prices also rose sharply. Twenty four karat silver was sold at Rs9,146 per tola, an increase of Rs741, while the price per 10 grams climbed to Rs7,841, up by Rs636.
Global market supports rebound
The recovery in local prices came as gold gained strength in international markets. Spot gold was trading near $4,925 an ounce, up $152.9, or about 3.20 percent, from the previous session. The move followed a correction after heavy volatility last week.
Internationally, gold prices have seen wild swings in recent days. Spot gold surged to a record high of $5,594.82 on Thursday but suffered its biggest one day fall since 1983 a day later, according to Reuters.
That sharp rise has also pushed investors towards new ways of gaining exposure to the yellow metal. Reuters reported on February 3 that demand is growing for so called tokenised gold, a digital product that allows investors to buy gold backed tokens on a blockchain instead of holding physical bars or jewellery.
These tokens, issued by crypto firms such as Tether and Paxos, are backed by physical gold stored in vaults. While still small compared with the broader digital asset market, the sector is expanding quickly. Data from CoinGecko shows nearly 20 gold tokens with a combined market value close to $6 billion, more than four times higher than at the end of 2024.
However, experts have warned that sharp price swings in gold could test investor confidence in such products, especially if large numbers of investors try to redeem tokens for physical gold at the same time.
For now, the rebound in global prices appears to have filtered through to Pakistan’s bullion market, offering a pause after days of heavy losses and giving traders a reason to watch the market closely in the sessions ahead.
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