Pakistani gold prices saw a strong comeback on Thursday, wiping out nearly all of the losses from the previous five sessions, fuelled by a noteworthy upswing in global markets.

As previously mentioned that XAUUSD may retest its support on daily time frame

Gold prices per tola in Pakistan witnessed a surge in prices. The 24-Karat Gold increased by Pakistani Rupee (Rs5,700) per tola to Rs Rs218,300 per tola. The price of 10-gram 24-karat gold closed today’s session at Rs187,157 posting a increase of Rs4,887. Meanwhile, 10-gram 22-karat gold stood at Rs171,561.

The domestic market saw a rise in the price of silver as well; 24-karat and 10-gram 24-karat silver closed at Rs 2,650 and Rs 2,271.94, respectively.

It is worth to note that this positive session comes after five straight losses, during which the domestic bullion market lost a total of Rs6,300 on 24-karat gold.

XAUUSD

Gold Spot/ U.S. Dollar (XAUUSD) in Wednesday’s session gained (+$48.07) (+2.43%).

Gold Spot/ U.S. Dollar (XAUUSD) continues to trade upward for the day. XAUUSD posted an intraday high of $2040.39 and intraday low of $2024.45. Gold is currently trading at $2038.13 (2:15pm Thursday, 14 December 2023 (GMT+5) Time in Pakistan).

 

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