Gold price increases Rs300 per tola

WEB DESK: In the wake of a significant dip in the previous trading session fueled by unexpectedly high US inflation figures, the 24-karat gold price in the local bullion market saw a notable recovery, climbing by Rs300 to reach Rs211,100 per tola on Thursday.

According to the Karachi Sarafa Association, the price of 10-gramme 24-karat gold stood at Rs180,984, reflecting an increase of Rs257 compared to the previous session. However, the price of 10-gramme 22-karat gold experienced a decline, reaching Rs165,902.

Contrary to the gold market, silver prices remained stable today, with 24-karat silver being sold at Rs2,580 per tola and 10-gramme silver trading at Rs2,211.93.

On the global front, the international spot gold market showed a positive trend, currently being traded at $1,993.75, marking a gain of $1.45 day-over-day.

Notably, this follows yesterday’s setback, which saw gold slip below the $2,000 mark for the first time in two months.

Analysts attribute this decline to the unexpected consumer price index (CPI) shock reported on the previous day.

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