Gold price rebounds by Rs500 per tola

KARACHI: Following a dip on Thursday, gold prices in Pakistan rebounded on Friday, mirroring an increase in international markets.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local price of gold per tola (11.66 grammes) rose by Rs500, reaching Rs241,700. The price of 10 grammes of gold also increased, gaining Rs429 to settle at Rs207,219.

This rise follows a significant drop on Thursday when gold prices per tola fell by Rs1,500.

Internationally, gold prices also witnessed an increase on Friday. According to the APGJSA, the global rate for gold was set at $2,342 per ounce, which includes a $20 premium, marking a $7 rise during the day.

In contrast, silver prices in the local market remained steady, with rates holding at Rs2,900 per tola.

In April, gold prices in Pakistan reached an all-time high of Rs252,200 per tola, reflecting ongoing volatility in the precious metals market.

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