Gold prices increase in local market

WEB DESK: Domestic bullion prices in Pakistan experienced further gains on Tuesday, propelling 24-karat gold to Rs215,900 per tola, marking an increase of Rs100.

This upward trend was reported by the Karachi Sarafa Association, which also disclosed that the cost of 10 grams of 24-karat gold rose by Rs86, reaching Rs185,100. Additionally, 10-gramme 22-karat gold was valued at Rs169,674.

On the contrary, silver prices remained steady today, with 24-karat silver maintaining its selling price at Rs2,570 per tola and Rs2,203.36 per 10-gramme.

Internationally, the spot price of gold saw an uptick, trading near $2,036.26, reflecting a 0.26 per cent increase for the day. Similarly, international spot silver stood at $22.63, experiencing a 0.58 per cent rise.

Amidst these market fluctuations, the latest minutes from the Federal Reserve indicate that a majority of US officials exhibit a reluctance to implement rate cuts, shedding light on their cautious approach to monetary policy.

This development adds an additional layer of complexity to the dynamics influencing precious metal prices globally.

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