The price of gold in Pakistan went up on Friday. The new price of 24-karat gold is Rs241,700 per tola, which is an increase of Rs500. However, the price is still about Rs3,000 lower than the actual market rate due to low purchasing power in the country.
According to the Karachi Sarafa Association, the price of 24-karat gold is now Rs207,219 per 10 grams, which is Rs429 less than before. The price of 22-karat gold is Rs189,950 per 10 grams. Unlike gold, the price of silver stayed the same. The price of 24-karat silver is still Rs2,900 per tola and Rs2,486.28 per 10 grams.
Global Gold Price Update
Globally, the price of gold stayed around $2,344.5 per ounce, almost the same as the day before. Investors are watching the U.S. market closely because important news about inflation is expected soon.
How U.S. Interest Rates Affect Gold
Recently, the Federal Reserve said it might keep interest rates high for a longer time to control inflation. High interest rates make gold less attractive to investors because it costs more to hold it.
Conclusion
Gold price in Pakistan are going up, while global factors like U.S. interest rates are also affecting the market. If you’re interested in gold prices and updates, visit the Daily Gold Signal website or check the Daily Gold Update section.
