The gold market in Pakistan witnessed a notable increase in prices on Tuesday, August 20, 2024. According to the All Sindh Sarafa Jewellers Association, the price of 24-karat gold per tola saw an uptick of Rs. 700, bringing the new rate to Rs. 260,700, compared to Rs. 260,000 on the last trading day.
Similarly, the price of 10 grams of 24-karat gold also experienced a rise, increasing by Rs. 600 to reach Rs. 223,508, up from Rs. 222,908. The price of 22-karat gold, which is commonly used in jewelry, also saw an increase. The rate for 10 grams of 22-karat gold went up by Rs. 550, now standing at Rs. 204,882, compared to the previous price of Rs. 204,332.
While gold prices climbed, the silver market remained stable. The price of per tola silver held steady at Rs. 2,950, and the price for 10 grams of silver was unchanged at Rs. 2,529.14.
In the international market, the price of gold also saw a slight increase. The rate rose by $10, bringing the price to $2,512 per ounce, up from $2,502.
The increase in gold prices is reflective of ongoing global economic factors, including fluctuations in the dollar rate, geopolitical tensions, and the demand for safe-haven assets like gold. Investors in Pakistan and around the world continue to monitor these developments closely, as gold remains a preferred asset during times of economic uncertainty.
As the day progresses, traders and investors will be keeping a close eye on both local and international markets to gauge future trends and potential fluctuations in gold prices.
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