In a striking development that caught the attention of investors and jewelry enthusiasts alike, the price of gold saw a notable ascent. On a recent Friday, aficionados of the precious metal were met with the news that the cost for a tola of 24 karat gold surged by Rs1,100, marking its new price at Rs 216,800. This adjustment came on the heels of its previous position at Rs 215,700, signaling a robust upward momentum in the market.

More into the specifics, the increment wasn’t just confined to per tola measurements. Those monitoring the price of 10 grams of 24 karat gold witnessed a rise of Rs943, setting the new price at Rs185,871, up from Rs184,928. This trend of escalation was mirrored in the domain of 22 karat gold as well, with its price climbing to Rs170,382 from the prior Rs169,517, as per the insights shared by the All Sindh Sarafa Jewellers Association.

 

SILVER STANDS STEADY

Amidst the fluctuating landscape of gold prices, silver presented a stark contrast by maintaining a steady stance. The price per tola and for ten grams of silver remained unaltered, pegged at Rs2,570 and Rs2,203.36 respectively. This stability offers a glimpse into the diverse dynamics at play within the precious metals market.

INTERNATIONAL INFLUENCES

XAUUSD posted an intraday high of $2057.54 and intraday low of $2039.12. Gold is currently trading at $2051.75 (6:21pm Friday, 29 February 2024 (GMT+5) Time in Pakistan). A day earlier gold was trading at $2029.78 (5:02pm Thursday, 29 February 2024 (GMT+5) Time in Pakistan).

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