Gold price increases by Rs500 to Rs227,800 per tola

Gold prices in the domestic market showed a slight uptick on Wednesday. The value of 24-karat gold rose by Rs500 to reach Rs227,800 per tola, according to the Karachi Sarafa Association.

For smaller quantities, the price of 24-karat gold per 10 grammes climbed to Rs195,302, marking an increase of Rs429. Meanwhile, 22-karat gold saw a similar trend, reaching Rs179,027 per 10 grammes.

In contrast, silver prices remained stable, with 24-karat silver being traded at Rs2,580 per tola and Rs2,211.93 per 10 grammes.

Last week, 24-karat gold saw a reversal from its two-week upward trend, registering a loss of Rs2,700 per tola.

On the global scale, international spot gold hovered around $2,155.8 an ounce, experiencing a marginal decline of 0.08 per cent compared to the previous session.

Investors are eagerly awaiting the policy decision from the US Federal Reserve later today, with prevailing expectations leaning towards the Fed maintaining its current stance.