KARACHI – Gold buyers in Pakistan were hit with another major price shock as bullion rates staged powerful rebound, pushing the price of a single tola up by Rs11,200 in just one day.
The price of gold climbed to Rs465,236 per tola, marking a dramatic turnaround after the heavy decline recorded a day earlier. The price of 10-gram gold also surged by Rs9,602, reaching Rs398,864 in the local market.
The sudden jump came after gold had suffered a Rs11,300 drop on Wednesday, when the per-tola price fell to Rs454,036.
The latest spike was closely linked to a sharp increase in international bullion prices. Global gold rates rose by $112, reaching $4,427 per ounce, providing fresh upward momentum to prices in Pakistan.
The rally was not limited to gold. Silver also became more expensive, with its local price increasing by Rs185 to Rs7,044 per tola.
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