The price of 24-karat gold has experienced a significant increase, reflecting a robust demand for the precious metal. As of Monday, the price of 24-karat gold per tola rose by Rs. 200, reaching Rs. 292,400, up from Rs. 292,200 in the previous trading day.
This surge marks an all-time high in the local market, indicating a noteworthy shift in the gold market trends. The Sindh Sarafa Jewellers Association reported the price changes, shedding light on the increasing demand for gold in Pakistan, especially in the wake of global market fluctuations and local economic factors.
Several key factors have contributed to the recent surge in the price of 24-karat gold. First and foremost, global economic uncertainties and inflationary pressures have made gold an attractive investment option for many investors and consumers alike.
24 Karat Gold Price in 10-Gram Units
The price of 10 grams of 24-karat gold has also seen a notable increase. As of the most recent trading day, the price of 10 grams rose by Rs. 171, reaching Rs. 250,685 from Rs. 250,514 in the prior day. This price jump is part of a broader trend in which gold prices have been climbing consistently over the past few months.
Investors and buyers who prefer to purchase gold in smaller increments often choose the 10-gram unit due to its affordability compared to purchasing a full tola. These smaller units are especially popular among those looking to invest in gold as part of their savings strategy or to make gold jewelry.
Not only has the price of 24-karat gold seen an increase, but 22-karat gold has also experienced a rise in value. The price of 22-karat gold per 10 grams has gone up by Rs. 156, reaching Rs. 229,802 from the previous price of Rs. 229,646.
The Silver Market
While the prices of gold have surged, the price of silver has experienced a slight decline. The price of per tola silver decreased by Rs. 5, falling to Rs. 3,265, compared to the previous price of Rs. 3,270. Similarly, the price of 10 grams of silver came down by Rs. 4, now priced at Rs. 2,799 from the previous rate of Rs. 2,803.
Despite the recent drop in silver prices, silver continues to be an essential component of various industries, including jewelry, electronics, and photography.
Global Gold Price Movements
The international market for gold has also seen an upward trend, with the price of gold increasing by $2, reaching $2,799 per ounce, compared to the previous price of $2,797 per ounce. This marginal increase in global gold prices reflects the ongoing pressure on the global market, with inflation and geopolitical tensions contributing to the fluctuation of gold’s value.
