ISLAMABAD: Gold rates in Pakistan climbed again on Friday reversing the sharp losses recorded a day earlier in a dramatic market turnaround.
According to the All Pakistan Sarafa Gems and Jewellers Association the price of gold per tola increased by Rs3000 reaching Rs497662 in the local market.
Likewise the cost of 10 grams rose by Rs2572 to settle at Rs426664.
Internationally gold prices also moved upward gaining $30 per ounce to reach $4753 which contributed directly to the rise in domestic rates.
The increase follows a notable drop on Thursday when gold prices had fallen significantly with per tola rates decreasing by Rs9500 and 10 grams dropping by Rs8145.
This swift reversal has injected fresh momentum into the local precious metals sector after one of the steepest single-day declines in recent weeks.
Regional media reports from Lahore and Karachi have authenticated the national figures with local sarafa markets confirming identical adjustments in real-time trading.
Jewelers in Anarkali Bazaar and other major hubs reported heightened buyer interest as the rebound created immediate buying opportunities.
Data from the past week reveals gold prices fluctuated by more than Rs15000 per tola underscoring heightened volatility driven by global cues.
The All Pakistan Sarafa Gems and Jewellers Association benchmark rates serve as the authoritative reference for traders across all provinces ensuring market uniformity.
International gains to $4753 per ounce reflect strong safe-haven demand amid persistent global economic uncertainties and central bank accumulation trends.
In Pakistan the alignment between international spot prices and local rates is amplified by currency stability factors that moderated some import-related pressures.
The jewellery industry which forms a multi-billion-rupee segment of the national economy is closely monitoring these shifts for potential impacts on wedding season demand.
Buyers who paused purchases during Thursday’s dip have returned in significant numbers seeking to lock in value before further movements.
Analysts note that such rebounds often signal renewed investor confidence in gold as an inflation hedge for middle-income households nationwide.
Regional jewellers associations in Punjab and Sindh echoed the national data adding that footfall increased notably within hours of the announcement.
The 10 grams rate at Rs426664 has made smaller denomination investments more accessible to a broader range of retail customers.
Transparency maintained by daily association updates continues to build trust in the gold trading ecosystem preventing speculative distortions.
With per tola prices now at Rs497662 the market has closed the week on a positive note despite mid-week turbulence.
Economists highlight that consistent alignment with international benchmarks at $4753 per ounce supports long-term stability in domestic pricing mechanisms.
Jewelers across Islamabad Rawalpindi and Quetta have updated display boards reflecting the new figures with steady sales reported by evening.
This latest movement reinforces gold’s enduring appeal as a preferred asset class for wealth preservation in uncertain times.
Market participants are now eyeing Monday’s opening rates for indications of sustained momentum or renewed corrections.
The All Pakistan Sarafa Gems and Jewellers Association has advised calm trading urging stakeholders to base decisions on verified data rather than short-term sentiment.
Overall the Friday surge has restored balance to a volatile week while highlighting the interconnected nature of Pakistan’s gold market with global trends.