Gold prices have made a striking recovery in both global and local markets following a short-lived downturn, driven by renewed investor interest amid ongoing economic volatility, market analysts report.
In the global bullion market, the price of gold per ounce jumped by $42, reaching $3,265. This upward trend was mirrored domestically, with the price of gold per tola (roughly 11.66 grams) increasing by Rs3,900 to hit Rs345,100. Likewise, the cost of 10 grams of gold rose by Rs3,350, settling at Rs296,200.
Market experts attribute this rebound to lingering economic uncertainties, prompting investors to flock to gold as a reliable safe-haven asset. “Despite brief fluctuations, gold remains a preferred choice for those seeking stability in turbulent times,” said a financial analyst.
The surge follows a sharp decline just a day earlier, when gold prices dropped by Rs10,800 per tola. The dip was largely tied to optimism surrounding a temporary trade agreement between the United States and China, which included a 90-day pause on the majority of tariffs. This development briefly shifted investor focus toward riskier assets, causing a sell-off in gold.
However, the renewed spike in prices suggests that confidence in the trade truce may be waning, with investors reverting to gold to hedge against potential economic risks. Analysts predict that gold prices could remain volatile in the near term as markets continue to assess global trade dynamics and economic indicators.
