Gold rate inches up to Rs215,900 per tola with marginal gain

In a sustained upward trajectory, domestic bullion recorded gains on Tuesday, driven by a surge in 24-karat gold. The precious metal reached Rs215,900 per tola, reflecting an increase of Rs100.

The latest data from the Karachi Sarafa Association reveals that the cost of 10 grammes of 24-karat gold saw a slight rise, reaching Rs185,100 with an uptick of Rs86. Additionally, 10-gramme 22-karat gold was quoted at Rs169,674.

Contrastingly, silver prices remained stable, maintaining their previous rates. The 24-karat silver was traded at Rs2,570 per tola, while the cost per 10-gramme stood at Rs2,203.36.

On the global front, the international spot gold market witnessed a positive trend, with prices hovering near $2,036.26, indicating a 0.26% increase for the day. In parallel, international spot silver held strong around $22.63, marking a 0.58% uptick.

The financial landscape also saw influence from the latest Federal Reserve minutes, which indicated a collective sentiment among most US officials against rushing into rate cuts.

This news brings additional insights into the dynamics shaping the global precious metals market.