In the latest updates from the domestic bullion market, gold prices maintained a steady pace. On Thursday, the price of 24-karat gold remained constant at Rs215,200 per tola. This stability in gold prices reflects a consistent trend in the market.
The Association also noted that the price for 10-gram 24-karat gold stood at Rs184,500. In a similar vein, the price for 10-gram 22-karat gold was reported at Rs169,124, indicating a stable market for different gold purities.
Silver, mirroring the gold market, showcased a stable trajectory. The price for 24-karat silver was at Rs2,600 per tola and Rs2,229.08 per 10 grams, maintaining a steady position in the domestic market.
Internationally, gold prices were also unaltered. The international spot gold was trading at $2033.59 [06:23pm PST], aligning with the previous closing rates.
RECENT DEVELOPMENTS IN DOMESTIC GOLD TRADING
Significant developments unfolded in the domestic gold trading sector. A meeting was convened on Thursday, January 18, 2024, at Karachi Gold Bullion. Chaired by Qasim Shikarpuri, this meeting included members of the Karachi Bullion Exchange, representatives from ARY GOLD, and GOLD LAB owners in Karachi.
Unanimously deciding to form a joint committee with all pertinent parties was one of the meeting’s main results. With this project, we hope to improve the way physical gold trading is managed and better control over gold prices.
Furthermore, the committee will offer consultation and assistance to government bodies in matters related to gold trading. This collaborative approach is expected to bring more coherence and stability to the gold market.
The negative misinformation about gold prices on social media was another topic of conversation. The members vehemently denounced this falsehood and emphasised the need to combat the damaging effects of propaganda like this on the gold sector.
The gathering reaffirmed the gold trade association’s dedication to upholding an open, well-run system that promotes stability and confidence in the country’s bullion market.
