ISLAMABAD: After going down for two consecutive days, the price of the precious metal witnessed an increase where per tola price of 24 karats of gold went up by Rs 450 and was sold at Rs 236,200 on Saturday against Rs. 235,750 on Friday.
According to All Sindh Sarafa Jewellers Association price of 10 grams of 24 karats of gold also went up by Rs 385 to Rs 202,503 from Rs 202,118, while the rate of 10 grams of 22 karats of gold increased to Rs 185,628 from Rs 185,274.
However, the price of per tola and ten-gram white metal remained unchanged to settle at Rs 2900 and Rs 2486.28 respectively.
Gold Price in International Market
Unlike the local market, the price of the yellow plate went down in the international market and witnessed a decrease by US$ 6 to $1946 against $1952, the last day. Despite the decrease in the international market, the local market observed a price increase, which is not a good sign for the country. Mostly the gold price in the local market is influenced by either the rates in the international market or the devaluation of local currency. However, during the last two days, there was no such activity reported as the local currency appreciated slightly during the last three days.
Bullion experts are of the view that the ongoing financial and political unrest with no clear window in the future made the price of yellow metal vulnerable.
