Following a brief dip, gold prices have surged once again in both international and domestic markets, fueled by renewed investor demand amid persistent global economic uncertainty, Express News reported.
In the international bullion market, gold prices surged by $37 per ounce, reaching $3,258. This increase was reflected in the local market as well, where the price of gold per tola (approximately 11.66 grams) rose by Rs3,700 to settle at Rs344,200.
Similarly, the price of 10 grams of gold climbed by Rs3,173, reaching Rs295,096. Analysts link this resurgence to persistent economic concerns and investors’ continued preference for safe-haven assets like gold.
Read more: Gold plunges following US-China truce
The rebound comes just a day after a significant drop in gold prices was recorded, plummeting by Rs10,400 per tola in a single day.
The decline was largely attributed to improving trade relations between the United States and China. Following the announcement of a temporary trade deal that included a 90-day suspension of 90% of tariffs, investor sentiment shifted towards riskier assets.
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