Gold rates in Pakistan continued to rise, with 24 karat gold increasing by Rs700 to Rs 215,800 per tola and Rs185,014 per 10 grams. The international market saw a slight decrease, falling to $2,054 from $2,056. Meanwhile, the Pakistan Stock Exchange experienced notable growth and positive trends, with the KSE-100 index gaining 2,943 points.
ISLAMABAD: The price of per tola 24 karat gold increased by Rs700 and was sold at Rs 215,800 on Monday compared to its sale at Rs 215,100 on the last trading day, ARY News reported.
The price of 10 grams of 24 karat gold also increased by Rs600 to Rs185,014 from Rs184,414 whereas the prices of 10 gram 22 karat gold went up to Rs169,596 from Rs169,046, the All Sindh Sarafa Jewellers Association reported.
The price of per tola and ten-gram silver remained constant at Rs2,570 and Rs2,203.36 respectively.
The price of gold in the international market decreased by $02 to $2,054 from $2,056, the Association reported.
Pakistan Stock Exchange (PSX) experienced a week of positive trends and notable growth in business activities on the hopes of political stability after general elections.
At the close of the business week, the KSE-100 index stood at 62,815 points, marking a gain of 2,943 points or (4.92%).
During the week, the KSE-100 index reached its peak at an impressive 62,815 points, reflecting the confidence of investors in the hopes of political stability in Pakistan after the February 8 polls.
Trading during the week the market witnessed a volume of total 1.69 billion shares worth Rs63.50 bln were transitioned.
Moreover, the market capitalization witnessed a notable increase of Rs364 billion during the week, reaching a total value of Rs 9,081 billion from Rs8,717 billion.
As the global economy fluctuates, the impact is felt far and wide, including the gold market in Pakistan. In recent months, there has been a noticeable surge in gold rates, sparking interest and concern among investors and the general public alike. This remarkable upward trend has brought forth various questions and considerations that are important to address.
First and foremost, the escalating gold rates can be attributed to several key factors, such as the uncertainty in financial markets, geopolitical tensions, and the devaluation of the local currency. These elements create an environment conducive to the appreciation of gold as a safe haven asset, prompting heightened demand and subsequently driving its prices up.
Furthermore, the global economic landscape has been marked by unprecedented challenges, leading investors to seek out resilient and reliable investment options. Gold, with its historical reputation as a store of value, has garnered attention as a hedge against inflation and currency devaluation. This has led many individuals and institutional investors to allocate a portion of their portfolios to gold, thereby contributing to its surge in price.
It’s crucial to recognize that while the increase in gold rates presents potential opportunities for investors, it also underscores the need for a comprehensive understanding of the dynamics at play. As the situation continues to evolve, staying informed about market trends, monetary policies, and broader economic developments becomes increasingly important for anyone with an interest in gold as an investment avenue.
In conclusion, the upward trajectory of gold rates in Pakistan reflects the intricate interplay of global and domestic factors, shaping the investment landscape and influencing financial decisions. As stakeholders navigate the complexities of this phenomenon, it’s imperative to approach the situation with a well-informed perspective and a strategic outlook. By keeping abreast of market dynamics and seeking sound advice, investors can make prudent choices amid the changing tides of the gold market.
Source: ARY NEWS
Gold rates in Pakistan continue to surge, with the price of per tola 24 karat gold rising to Rs 215,800, and 10 grams of 24 karat gold increasing to Rs 185,014. The prices of 10 gram 22 karat gold also went up to Rs 169,596. Meanwhile, the prices of silver remained constant. In the international market, the price of gold decreased slightly. The Pakistan Stock Exchange witnessed positive trends and notable growth in business activities, with the KSE-100 index gaining 2,943 points, reflecting investor confidence in the hopes of political stability after the recent general elections.
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