Gold Price in Pakistan Rebounds After Huge Losses in Last Two Days

After two days of heavy losses, the price of gold in Pakistan rebounded to post gains of Rs. 1,600 per tola on Wednesday.  According to data issued by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of gold (24 carats) went up by Rs. 1,600 per tola to Rs. 275,900, while the price of 10 grams rose by Rs. 1,372 to Rs. 236,540.    Gold had posted losses of Rs. 4,100 per tola and Rs. 4,300 on Monday and Tuesday respectively, with two days losses standing at Rs. 8,400 per tola.  The increase in price was in line with the international trend as gold prices rebounded after hitting a more than one-week low in the previous session. Spot gold was up 0.8 percent at $2,653.20 per ounce as of 1245 GMT, while the US gold futures climbed 1.2 percent to $2,653.10.