KARACHI: Gold prices regained a huge ground on Wednesday, as the global bullion rates neared $2,700 per ounce, traders said.

After shooting up by Rs2, 900 and Rs2, 487, gold prices reached Rs280,800 per tola and Rs240,741 per 10 grams, respectively, All Pakistan Sarafa Gems and Jewellers Association said.

On the world market, gold bullion value grew by $29, trading at $2,690 per ounce while silver was selling for $30 per ounce.

Domestic silver prices stood firm at Rs3,350 per tola and Rs2,872.08 per 10 grams, the association added.

Open market may offer gold and silver at different prices comparing to those fixed by the association.

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