In a notable shift, gold prices in Pakistan have stabilized after experiencing significant declines over the past two days. The price of 24-karat gold, a key indicator in the country’s bullion market, rose by Rs. 1,600, reaching Rs. 275,900 per tola. This increase comes after a substantial drop of Rs. 8,600, or 3.04%, per tola in the previous sessions.

Globally, spot gold prices also saw an uptick, trading near $2,647 an ounce, marking a rise of $15 or 0.57% from the last session. This global increase is attributed to investors analyzing the latest Federal Open Market Committee (FOMC) minutes and awaiting crucial U.S. economic data for further insights into the Federal Reserve’s monetary policy direction.

In the local market, the price of 24-karat gold per 10 grams increased by Rs1,372, bringing it to Rs236,540, as reported by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). Meanwhile, 22-karat gold was priced higher at Rs216,828 per 10 grams.

Conversely, silver prices remained stable in the domestic market. The price of 24-karat silver held steady at Rs3,400 per tola and Rs2,915 per 10 grams, showing no change from previous rates.