24-Karat Gold Holds Its Ground at Rs215,200 per Tola

In a stable trading session on Thursday, the domestic bullion market maintained consistency with the price of 24-karat gold holding firm at Rs215,200 per tola.

According to the Karachi Sarafa Association, the 10-gram 24-karat gold price remained steady at Rs184,500, while the 10-gram 22-karat gold was reported at Rs169,124.

Similarly, silver also retained its stability in the domestic market, with 24-karat silver priced at Rs2,600 per tola and Rs2,229.08 per 10-gram.

On the global stage, the international spot gold market is currently trading at $2,029.28 [12:56 pm PST], showing no change compared to the previous closing.

It's worth noting that domestic gold faced a significant setback last week, witnessing a decline of Rs2,150 per tola. This decline was attributed to the downturn in international prices and the continuous strengthening of the home currency.

Recent Developments in the Domestic Market:

On January 18, 2024, a meeting of Karachi Gold Traders convened under the chairmanship of Qasim Shikarpuri at Karachi Gold Bullion. The meeting included participants from all members of Karachi Bullion Exchange, representatives of ARY GOLD, and all GOLD LAB owners in Karachi.

In a unanimous decision, all gold traders agreed to establish a joint committee comprising stakeholders to enhance the management of physical gold trading. The primary objective of this joint committee is to take effective measures for the improved management of gold trading, with a particular focus on regulating gold rates.

Additionally, the committee will play a vital role in consulting and assisting government institutions in matters related to gold trading.

Looking ahead, the meeting strongly condemned negative propaganda regarding gold rates on social media platforms. It was emphasized to suppress elements engaging in detrimental activities against the gold industry through the spread of negative information.