Gold price in Pakistan increases by Rs250 to Rs228,550 per tola

The local bullion market exhibited stability on Thursday, with 24-karat gold fetching Rs228,550 per tola, marking an increase of Rs250 compared to the previous session.

This pricing trend persists near its historical highs, fueled by anticipations of US interest rate adjustments, heightened Chinese purchasing activity, and ongoing geopolitical tensions.

According to the Karachi Sarafa Association, the cost of 10-gramme 24-karat gold rose to Rs195,945 per tola, reflecting a gain of Rs215.

 Similarly, the price of 10-gramme 22-karat gold experienced a marginal uptick, reaching Rs179,616.

Contrarily, silver rates remained unchanged today, with 24-karat silver trading at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

Internationally, spot gold hovered around $2,169 per ounce, following a $16.8 or 0.78% increase yesterday.

JPMorgan Chase & Co. identifies gold as the top preference in commodities markets, projecting a potential price surge to $2,500 per ounce this year.