Gold rates experience slight increase in Pakistan

WEB DESK: In anticipation of the release of the US Federal Reserve’s meeting minutes scheduled for January 30 and 31, the domestic bullion market remained resilient, with slight movements observed in gold and silver prices.

On Tuesday, the price of 24-karat gold experienced a modest uptick, rising by Rs150 per tola to reach Rs214,450 per tola.

The Karachi Sarafa Association reported that the 10-gramme 24-karat gold also saw a marginal gain, reaching Rs183,856, reflecting an increase of Rs128 from the previous session.

Meanwhile, the price of 10-gramme 22-karat gold saw a slight increase, reaching Rs168,535, contributing to the overall stability in the domestic bullion market.

Silver prices, on the other hand, remained unchanged on the day, with 24-karat silver holding at Rs2,580 per tola and 10-gramme silver trading at Rs2,211.93.

It is noteworthy that the domestic gold market concluded last week in the red zone, impacted by a decline in international prices.

Currently, international spot gold is trading near $2,021, indicating a 0.2 per cent change compared to the previous session.

Market analysts and traders are eagerly awaiting the minutes from the US Federal Reserve’s January policy meeting, scheduled for release on Wednesday.

The outcome of these minutes is expected to provide insights into the future trajectory of global economic policies, influencing the direction of precious metal markets.

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