The price of 24-karat gold per tola experienced a noteworthy rise, an increase of Rs.200 to reach Rs.216,500 on Friday. This surge marked a notable increase compared to its last traded value of Rs.216,300. Simultaneously, the cost of 10 grams of 24-karat gold witnessed a rise of Rs.172, reaching Rs.185,614 from its previous rate of Rs.185,442.
Similarly, the rates for 10 grams of 22-karat gold saw an upward shift, reaching Rs.170,146 from Rs.169,989, according to the latest report from the All Sindh Sarafa Jewellers Association.
Despite the dynamic movement in gold prices, the values for silver exhibited stability, maintaining a consistent rate of Rs.2,650 per tola and Rs.2,271.94 per ten grams, respectively.
This significant shift in the local gold market reflects broader trends, as the international gold market also experienced an increase. The price of gold on the global stage rose by $4, reaching $2,056, in contrast to its previous value of $2,052, as reported by the Association. The observed fluctuations suggest a complex interplay of global economic factors influencing the precious metals market.