Gold prices in Pakistan experienced a moderate increase on Friday, as fluctuations in the international market influenced local rates. In the Pakistani market, the price of gold per tola rose to Rs. 439,880, marking an increase of Rs. 140 over the past nine hours. Similarly, the price for 10 grams of gold showed a slight uptick, reflecting the ongoing global trends, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
In trading over the last 9 hours, the gold price per ounce internationally climbed from $4,163.38 to $4,169.13, recording a gain of $5.75. This upward movement is indicative of the volatile nature of the global gold market, where prices have been oscillating due to various economic factors. The highest price of gold during this period was noted at $4,193.20, while the lowest was $4,147.71.
The local market has been responsive to these international shifts, with minor adjustments reflecting the broader trend. The pcsBuy rate, representing the local buying price, increased from Rs. 439,740 to Rs. 439,880, highlighting a steady demand within the country.
Silver prices also showed an upward trajectory in the local market, increasing from Rs. 53.44 to Rs. 53.86 per tola. This rise corresponds with global silver trends, signaling a consistent demand for precious metals amidst economic uncertainties.
Globally, the gold market has been influenced by various factors, including geopolitical tensions and economic policy shifts in major economies. These elements contribute to the fluctuating nature of gold prices, making them a focal point for investors seeking stability in turbulent times.
Overall, the Pakistani market’s response to these international trends underscores the interconnectedness of local and global economies. As the day progresses, traders and investors will continue to monitor these developments closely, anticipating further changes in the pricing of precious metals.
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