ISLAMABAD: After going down for just Rs 100, the per tola price of 24 karats of gold went up by Rs 600 and was available in the market at Rs 237,800 on Wednesday against Rs. 237,200 on Tuesday. The recent increase was influenced by the rising prices in the international market.
According to All Sindh Sarafa Jewellers Association, the price of 10 grams of 24 karats of gold also appreciated by Rs 514 to Rs 203,875 from Rs 203,361, while that of 10 grams of 22 karats of gold increased to Rs 186,886 from Rs 186,414.
The price per tola and ten grams of silver, however, remained unchanged to settle at Rs 2900 and Rs 2486.28, respectively.
Gold Price in International Market
The price of the precious metal witnessed an increase as investors observed the possible increase in the US debt limit and interest rate. Due to these two possibilities, the yellow metal went up in the international market by US$ 23 to $1982 against $1959 last day.
Meanwhile, the local market in Pakistan has a double effect on the alarming price of gold. First, it is affected by the international market, particularly the US. Second, the price goes up due to the multifaced challenges in the political and economic sectors.
