In today’s market update, the allure of gold persists as the per tola price of 24 karat gold experienced a notable surge. On December 28, 2023, the price escalated by Rs.2,200, reaching Rs.222,800, a significant uptick from its last trading day at Rs.220,600.
Rise in 24 Karat Gold Prices:
Investors and enthusiasts witnessed a noteworthy increase in the per tola price of 24 karat gold, marking a positive shift in the market. The surge of Rs.2,200 underscores the dynamic nature of gold prices, reaching Rs.222,800, compared to its previous sale at Rs.220,600.
Impact on 10 Gram Prices:
The price of 10 grams of 24 karat gold followed suit with an upward trajectory, experiencing an increase of Rs.1,886. This brought the current rate to Rs.191,015, up from Rs.189,129. Similarly, the prices of 10 grams of 22 karat gold rose to Rs.175,097 from Rs.173,368, as reported by the All Sindh Sarafa Jewellers Association.
Silver Prices Hold Steady:
While gold prices saw a surge, the silver market remained stable. Both the per tola and ten-gram silver prices held firm at Rs.2,680 and Rs.2,297.66, respectively. This stability in silver prices contrasts with the upward movement in gold rates, providing a nuanced perspective on the precious metals market.
International Gold Market Dynamics:
The influence of global factors is evident as the price of gold in the international market recorded a $20 increase, reaching $2,105 from $2,085. This international uptick adds an extra layer of complexity to the dynamics of gold prices, reflecting the interconnected nature of the precious metals market on a global scale.
As of December 28, 2023, the gold market continues to be dynamic, with a notable rise in 24 karat gold prices. Investors and traders are advised to stay attuned to market fluctuations, considering both local and international factors that contribute to the ever-changing landscape of precious metal values. The stability of silver prices amidst the surge in gold rates adds an interesting dimension to the overall market scenario.
Afsheen is a writer with an extensive experience in creating authentic and well-researched articles.