Gold price surges by Rs.800 per tola to Rs.242,300 as on 3rd July 2024

The price of per tola of 24 karat gold saw a significant increase of Rs. 800, reaching Rs. 242,300 on Wednesday, compared to Rs. 241,500 on the last trading day. This upward trend in gold prices has also impacted the price of 10 grams of 24 karat gold, which rose by Rs. 686, moving from Rs. 207,047 to Rs. 207,733. Similarly, the price of 10 grams of 22 karat gold increased to Rs. 190,422 from Rs. 189,793, according to the All Sindh Sarafa Jewellers Association.

While gold prices experienced a notable rise, the prices of silver remained unchanged. The price of per tola of silver stayed constant at Rs. 2,850, and the price of ten grams of silver held steady at Rs. 2,443.41.

On the international front, the price of gold climbed by $21, reaching $2,345 from the previous $2,324, as reported by the Association. This increase reflects the ongoing fluctuations in the global gold market, driven by various economic and geopolitical factors.

The rise in gold prices is often seen as a response to market uncertainties and is considered a safe haven for investors. The increasing trend in both local and international markets indicates a strong demand for gold, which could continue to influence prices in the coming days.

For investors and consumers alike, keeping an eye on the gold market trends is crucial, as these fluctuations can have significant implications for financial planning and investment strategies.

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