KARACHI: Gold price rebounded on Wednesday after a sharp decline in the previous session.
In the local market, gold per tola increased by Rs1,400 to reach Rs271,900, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
Similarly, the price of 10-gram gold rose by Rs1,200 to Rs233,111. This recovery comes after a substantial drop of Rs7,000 on Tuesday, when gold settled at Rs270,500 per tola.
On the global front, gold prices climbed, with APGJSA reporting an international rate of $2,607 per ounce (including a $20 premium), marking a $14 rise on the day.
Silver prices, meanwhile, held steady at Rs3,250 per tola.
Last month, gold hit a record high in Pakistan at Rs287,900 per tola, driven by heightened demand amid Middle Eastern conflicts and uncertainty ahead of the US election.
Internationally, the precious metal also inched up on Wednesday as investors sought bargains after the previous day’s drop, while attention turned to upcoming US inflation data that could influence the Federal Reserve’s future policy decisions.
