The price of gold in Pakistan experienced an increase on Thursday, with 24-karat gold being traded at Rs320,800 per tola, marking a rise of Rs1,800. This surge in price aligns with broader market trends, influenced by economic factors and global movements in gold prices.
Key Highlights for Gold Price:
- 24-karat gold per tola: Rs320,800 (+Rs1,800)
- 24-karat gold per 10 grams: Rs275,034 (+Rs1,543)
- 22-karat gold per 10 grams: Rs252,123
- 24-karat silver per tola: Rs3,524 (-Rs31)
- 24-karat silver per 10 grams: Rs3,021 (-Rs26)
24-Karat Gold Rate Market Context
Gold prices in Pakistan are influenced by various economic factors, including international market trends, currency fluctuations, and demand-supply dynamics. The All-Pakistan Gems and Jewelers Sarafa Association (APGJSA) reported this latest surge, reflecting the ongoing volatility in precious metal markets.
Global Gold Market Trends
On the international front, spot gold was trading near $3,042 per ounce, reflecting a minor decline of $8 (0.26%) from the previous session. The global gold market remains sensitive to key economic indicators, such as inflation data, interest rate policies, and geopolitical tensions.
Technical Insights
The domestic gold market follows international price trends and currency exchange rates. The recent increase in gold prices can be attributed to a weaker Pakistani Rupee (PKR) and rising global demand. Investors often turn to gold as a safe-haven asset during uncertain economic conditions.
Meanwhile, silver prices recorded a decline, with 24-karat silver per tola dropping by Rs31, settling at Rs3,524. The 10-gram silver price also decreased by Rs26, standing at Rs3,021.
Future Outlook
Given the current market conditions, gold price in Pakistan may remain volatile. Investors and traders should monitor global economic trends, including interest rate decisions by the US Federal Reserve, inflation reports, and geopolitical developments.
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