The price of 24-karat gold witnessed an increase of Rs2,000 per tola and was traded at Rs.262,100 on Thursday against its sale at Rs260,100 the previous day.

Likewise, the All Sindh Sarafa Jewellers Association said, the price of 10 gram 24 karat gold also advanced by Rs1,714 and was sold at Rs224,708 against Rs222,994. Meanwhile, the rates of 10 gram 22-karat gold increased to Rs205,983 from Rs204,411.

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The price of per tola and ten gram silver witnessed no change and were sold at Rs2,900 and Rs2,486, respectively.

FX Street reported that gold traded back above $2,500 on Thursday after rebounding from the $2,471 previous day’s lows, following the release of lower-than-expected job openings data in July from the US, which stoked fresh hard-landing fears.

The precious metal is trading back up in the $2,520s during the US session after private payrolls data shows a lower-than-expected number of new hires in August.

ADP Employment Change rose 99K in August from a downwardly-revised 111K in July, and missed expectations of 145K. The data adds to the narrative that the US labor market is vulnerable and the economy could be heading for a hard landing.