ISLAMABAD: After witnessing a number of records during last one and a half month both at national and international market, the per tola price of the 24 karats of gold in Pakistan seems unstoppable as on Friday the precious metal registered further increase of Rs 500 to reach at Rs.250,700 against the previous day closing of Rs.250,200.
Meanwhile, as per reports from All Sindh Sarafa Jewellers Association, the rates for the 10 grams of 24 karats of the yellow plate went up Rs.429 to settle at Rs 214,935 as compared to Rs.214,506 last day that of 10 grams of the 22 karats of the yellow metal increased to Rs.197,024 against the previous day closing of Rs.196,631.
The rates for the per tola and ten grams of the white plate (silver) remained constant at Rs.2,780 and Rs.2,383.40 respectively.
Gold Price in International Market
The price of the yellow metal in the international market remained volatile for the last five to six weeks as on Friday it recorded further increased by $5 to settle at $2,400 from the previous day closing of $2,395.
The international market witnessed the historic record high for a number of times during last few weeks including the latest one where price of gold once crossed $2320 per punce
As the international market of the yellow metal remained highly volatile during last couple of days due to a number of reasons including investment from the Chinese traders as their stock market went bearish and they turned to invest in the safe heaven.
Meanwhile, several private banks in the US also invested in the precious metal taking its price first above $2300 and then even above $2400 per ounce.
During last couple of days, the precious metal in the international market witnessed major appreciation that affected most of the bullion markets across the globe. After the huge increase its price increased by over $260 per ounce during last six to seven weeks. The Price for the precious metal in the local bullion market mostly influenced by the rates in the international market.
