In trading over the last 18 hours, gold prices in Pakistan have shown a notable increase, reflecting a strong performance in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the local market has increased by Rs. 340 from the start of the day, reaching Rs. 447,390. Similarly, the price for 10 grams of gold has also seen a rise, indicating a bullish trend in the market. At the beginning of the day, the gold price per tola was recorded at Rs. 447,050.
Internationally, gold has similarly witnessed an upward movement. The current price of gold stands at $4,216.47 per ounce, up by $10.38 from the day start value of $4,206.09. This increase is attributed to several factors, including market speculation and currency fluctuations, which have contributed to the strengthening of gold prices globally.
In the local market, silver prices have experienced a decline. The price per tola of silver has decreased by Rs. 1.28, settling at Rs. 57.17 compared to Rs. 58.45 at the start of the day. This decrease contrasts with the upward trend observed in the gold market.
Globally, the gold market has been influenced by various economic indicators and geopolitical events, leading to a positive outlook for precious metals. Investors continue to view gold as a safe-haven asset amidst economic uncertainties, driving demand higher. The ongoing market dynamics suggest that gold prices may continue to exhibit volatility, with potential upward movements influenced by global economic conditions.
Overall, the Pakistani gold market has mirrored the global trend, with prices rising steadily throughout the day. This increase highlights the interconnectedness of local and international markets, as well as the impact of broader economic factors on commodity prices. As traders and investors remain vigilant, the gold market continues to be a focal point for financial analysts worldwide.
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