Gold Surges, Registers Rs1,000 Increase per Tola

In a significant development, domestic bullion witnessed robust gains on Wednesday, propelling the price of 24-karat gold by Rs1,000 per tola to reach Rs220,600.

According to the Karachi Sarafa Association, the price of 10-gram 24-karat gold exhibited an uptick, standing at Rs189,129, reflecting a gain of Rs857. Meanwhile, the 10-gram 22-karat gold recorded a price of Rs173,368.

It's noteworthy that the past week saw a substantial increase of Rs2,500 per tola in the value of 24-karat gold.

In addition to the gold surge, silver prices also experienced an uptrend today. Both 24-karat silver and 10-gram 24-karat silver witnessed increases of Rs30 and Rs25.72, being traded at Rs2,680 and Rs2,297.66, respectively.

Looking at the global market scenario, international spot gold is presently trading at $2,066.85, marking a 0.04% increase for the day. Meanwhile, international spot silver is trading at $24.13, reflecting a slight decline of -0.25%.

Apart from global fluctuations, the domestic gold market is also influenced by changes in the interbank exchange rate of the local currency. The Pakistani Rupee (PKR) is poised to extend its winning streak for the 11th consecutive session against the US dollar, currently trading at PKR 281.98/282.37 per USD.

This surge in precious metal prices comes at a time when the Pakistan economy is closely monitored for any impact on business and economic news in Pakistan, adding to the dynamics of technology in Pakistan.