KARACHI: Gold prices recorded one of the biggest single-day increases in history in both Pakistan and international markets after a sharp rebound following a three-day slump.
In the local bullion market, the price of 24-karat gold per tola jumped by a record Rs24,000 in a single day, reaching Rs514,362. The price of 10 grams of gold surged by Rs20,576 to Rs440,982.
Silver prices also moved higher, with per tola silver rising by Rs416 to Rs8,821.
Market analysts noted that gold had fallen significantly over the previous three sessions. In Pakistan, per tola gold had dropped by Rs82,500 during the three-day decline.
In the global market, gold rose sharply by $240 per ounce on the day, taking the international price to $4,916 per ounce. Earlier, global prices had plunged by $825 over three days, wiping out billions of dollars in value across bullion markets worldwide.
Traders say the sudden volatility reflects ongoing uncertainty in international financial markets, pushing investors back toward safe-haven assets like gold.