The Pakistan gold market saw an increase on Wednesday. The rate for 24-karat gold rose by Rs600, making it Rs245,600 per tola.
24-karat Gold Price
The Karachi Sarafa Association noted that the Pakistan gold market price for 24-karat gold is now Rs210,562 per 10-gram, which is an increase of Rs514.
Price Adjustment Due to Purchasing Power
It’s significant to note that today’s Pakistan gold market price is Rs2,500 below its actual cost. This adjustment is due to a decrease in purchasing power.
Price of 22-Karat Gold
Similarly, the price for 22-karat gold rose to Rs193,016 per 10-gram in the gold market.
Silver Prices Remain Steady
In the domestic market, silver prices remained unchanged. The price of 24-karat silver is Rs2,900 per tola and Rs2,486 per 10-gram.
Global Gold Prices
On the international market, spot gold traded near $2,373 per ounce. This is an increase of $8.6 or 0.36% from the previous session.
Factors Influencing Gold Prices in Pakistan
Several factors influence the Pakistan gold market. These include the international gold price trends, currency exchange rates, and local market demand. Political stability and economic policies also play a significant role in determining gold prices. The Pakistani rupee’s value against the US dollar directly impacts the gold price, as gold is traded in dollars internationally.
Conclusion
The recent increase in gold prices highlights the fluctuating nature of the gold market. For daily updates on gold prices, visit Daily Gold Signal and check their Daily Gold Update for more detailed insights.
