In the domestic bullion market, the price of 24-karat gold maintained its stability, standing firm at Rs214,300 per tola on Tuesday. The Karachi Sarafa Association reported that both the 10-gram 24-karat gold and the 10-gram 22-karat gold prices remained unchanged as well, at Rs183,728 and Rs168,416 respectively. Last week saw a sharp decline of Rs1,700 per tola in the price of 24-karat gold, inline to the fluctuation in international prices.
SILVER PRICES FOLLOW SUIT
Not only did gold prices remain consistent, but silver prices also mirrored this stability in the domestic market. With 24-karat silver being sold at Rs2,600 per tola and Rs2,229.08 per 10-gram, investors found reassurance in the steady trajectory of precious metal prices.
GLOBAL PERSPECTIVE: A GLANCE AT INTERNATIONAL MARKETS
XAUUSD posted an intraday high of $2026.50 and intraday low of $2016.95. Gold is currently trading at $2025.67 (2:31pm Tuesday, 12 February 2024 (GMT+5) Time in Pakistan).
INVESTOR ANTICIPATION AMID ECONOMIC UNCERTAINTY
As investors keep a close eye on global economic indicators, particularly the imminent release of US inflation data, the anticipation builds. This data holds the promise of shedding light on the Federal Reserve’s potential moves regarding interest rates. With economic shifts impacting investment strategies, the stability in gold and silver prices offers a sense of security amidst the uncertainty.
