24-karat gold price increases to Rs227,300 per tola

In Tuesday’s trading session, the local bullion market witnessed a modest recovery, as the price of 24-karat gold rose by Rs400 to reach Rs227,300 per tola.

The Karachi Sarafa Association disclosed that the price of 24-karat gold for 10 grammes climbed to Rs194,873, marking a Rs343 increase.

Similarly, the price of 22-karat gold saw an uptick, reaching Rs178,634 per 10 grammes.

Contrarily, silver prices remained stable, with 24-karat silver maintaining its rate at Rs2,580 per tola and Rs2,211.93 per 10 grammes.

Last week, 24-karat gold concluded its two-week ascent with a setback of Rs2,700 per tola.

On the global scale, international spot gold hovered around $2,155 per ounce, experiencing a marginal decline of 0.25 per cent compared to the preceding session.

This dip in the global market is attributed to dampened expectations of a US interest rate reduction following lackluster price data from the previous week.

Notably, US consumer prices surpassed projections in February, while producer prices hinted at inflationary pressures.