Islamabad: The gold price in Pakistan bounced back on Thursday after dropping Rs1,050 per tola the day before.
According to the All Sindh Sarafa and Jewellers Association (ASSJA), the price of gold on Thursday increased by Rs750 per tola and Rs644 per 10 grams to settle at Rs150,850 and Rs129,330, respectively.
The price of gold is increasing higher as a result of rising inflation. It has been observed that during periods of inflation, people used to hold aggressive bets on gold.
In the international market, the price of yellow metal jumped by $23 per ounce to settle at $1,725.
On July 28, the price of a tola reached an all-time high of Rs162,500; it then swiftly fell to Rs134,200 before rising once more.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams.