In a dramatic turnaround, the Karachi bullion market rebounded sharply on Tuesday, pushing gold prices back above the psychologically important Rs 500,000 per tola mark after a historic three-day sell-off. The strong recovery indicates renewed buying interest and highlights continued volatility in the precious metals market.
According to official rates, the today gold rate in Karachi for 24-karat gold surged by Rs 13,700, settling at Rs 504,062 per tola. This rebound recovered more than half of Monday’s steep losses, suggesting that the recent crash may have been an extreme market correction rather than the beginning of a prolonged bearish trend.
On a per-gram basis, 24-karat gold per 10 grams climbed by Rs 11,745 to Rs 432,151, while 22-karat gold rose by Rs 10,766 to Rs 396,152 per 10 grams.
Silver prices also joined the rally, with 24-karat silver jumping Rs 416 per tola to Rs 8,821, and Rs 357 higher per 10 grams at Rs 7,562. Despite the gains, silver remains well below its recent highs, reflecting ongoing turbulence in the precious metals sector.
The local rebound mirrored global trends, as the international gold price surged by $137 per ounce to $4,813, recovering part of its recent sharp losses in overseas markets.
All rates are officially certified by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) and are calculated based on interbank exchange rates for purity 999 (24K).
