Gold price surges by Rs24,000 to Rs514,362 per tola
Business
Gold prices rebounded sharply as per tola rates in Pakistan jumped Rs24,000 to Rs514,362, while global gold surged $240 to $4,916 an ounce after a day of losses.
KARACHI (Dunya News) - Gold prices witnessed a sharp rebound in both Pakistan and the international market, reversing the heavy losses recorded a day earlier.
In the local bullion market, the price of gold per tola surged by Rs24,000, pushing it up to Rs514,362.
Similarly, the price of 10 grams of gold increased by Rs20,576 to reach Rs440,982, while 10 grams of 22-carat gold rose to Rs404,248.
The sudden jump reflects strong volatility driven by global market trends.
In the international market, gold prices climbed by $240, taking the rate to $4,916 per ounce.
Gold loses Rs61,000 in two days, prices now at Rs511,862
This sharp increase came just a day after gold prices had declined significantly.
On the previous day, gold in Pakistan had dropped by Rs21,500 per tola to Rs490,362, while 10 grams had fallen by Rs18,433 to Rs420,406.
Globally, gold had slipped by $215 to $4,676 per ounce before making a strong comeback.
Market analysts attribute the rapid fluctuations to global economic uncertainty, investor sentiment, and movements in international bullion markets.
