Gold prices surge in Pakistan after previous session losses

KARACHI: Gold prices in Pakistan rebounded sharply on Thursday after falling in the previous sessions, tracking gains in the international bullion market, traders said. In the local market, the price of 24-karat gold rose by Rs5,000 per tola to Rs475,362, while the price of 10 grams increased by Rs4,287 to Rs407,546, according to local jewellers’ associations. The rise followed gains in the global bullion market, where spot gold increased by $50 per ounce to $4,530. Silver prices also moved higher in Pakistan, with per tola silver rising by Rs60 to Rs8,034, while the price of 10 grams climbed by Rs51 to Rs6,887. The rebound came a day after gold prices had recorded a sharp decline in both domestic and international markets. On Wednesday, international gold prices had fallen by $68 per ounce to $4,480, while local gold prices dropped by Rs6,800 per tola to Rs470,362. The price of 10 grams had declined by Rs5,830 to Rs403,259. Bullion dealers said local prices continued to follow fluctuations in international markets and movements in the rupee-dollar exchange rate. The post Gold prices surge in Pakistan after previous session losses appeared first on HUM News English.