Gold recovers lost sheen, bounces back to Rs196,100 per tola

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An undated image of a customer looking at the jewellery displayed at a gold store. — Reuters/File

Gold jumped on Thursday, bouncing back from the price shock received a day earlier to trade above the key Rs196,000-per-tola level as record-high inflation once again shifted investors’ attention towards the precious commodity.

Data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) increased by Rs500 per tola and Rs429 per 10 grams to settle at Rs196,100 and Rs168,124, respectively.