Gold prices suddenly rebounded in Pakistan on Saturday after international, particularly traders in the United Arab Emirates (UAE), panicked over bullion outlook following the Kingdom’s fallout with neighboring countries.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola in Pakistan increased by Rs. 1,300 to Rs. 476,162.
Some traders on X warned that bullion prices may get volatile again due to UAE’s fallout with neighboring countries over its stance towards Iran since the war began.
The price of 10 grams of gold recovered by Rs. 1,115 to settle at Rs. 408,232.
Gold lost Rs. 500 on Friday to settle at Rs. 474,862.
In the international market, gold prices appreciated by $13 to settle at $4,538 per ounce.
Meanwhile, silver lost some value on Saturday. It fell by Rs. 21 to settle at Rs. 8,013 per tola.
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