Gold prices in Pakistan rebound

KARACHI: The price of gold experienced a notable rebound in Pakistan after witnessing a decline of Rs15,500 on Tuesday.

On Wednesday, the price of gold surged by Rs5,500, reaching Rs205,000 per tola. Moreover, the price of 10 grammes rose by Rs4,715, settling at Rs175,754.

After nearly a month of silence, the bullion market in Pakistan finally released the gold rates on Tuesday, revealing a significant drop of Rs15,500 per tola from the rates last issued on September 12.

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Traders had abstained from disclosing gold rates while industry leaders deliberated on strategies to maintain a market “free from speculation” in the wake of law enforcement agencies’ crackdown.