Gold prices in Pakistan bounce back following a single-day decrease.
The gold market in Pakistan staged a recovery, reclaiming most of the losses incurred the previous day, with a notable increase of Rs. 500 per tola observed on Tuesday, according to data released by the Karachi Sarafa Association. The price of 24-carat gold rose to Rs. 215,200 per tola, marking a gain of Rs. 500, while the cost of 10 grams experienced a surge of Rs. 429, reaching Rs. 184,500.
Contrastingly, the preceding week witnessed a decline in gold prices by Rs. 2,150 per tola, followed by an additional decrease of Rs. 600 per tola on the previous day. The dip in prices was largely attributed to the global downtrend in gold values. In the international market, spot gold demonstrated a 0.3 percent increase, reaching $2,026.19 per ounce by 0350 GMT, and concurrently, US gold futures saw a 0.3 percent climb to $2,027.50.
