ISLAMABAD: After an increase of Rs 900 last day, the price of per tola 24 karats of gold witnessed another major increase by Rs 2,700 to reach Rs 223,900 on Tuesday against the last day price of Rs 221,200 on the last trading day.
Meanwhile, according to All Sindh Sarafa Jewellers Association, the rates for the 10 grams of 24 karats of the precious metal also went up by Rs 2,315 to settle at Rs191,958 from the last day’s rates of Rs 89,643 whereas the rates for the 10 gram of 22 karats of the yellow metal increased to Rs175,962 from the previous day price of Rs 173,840.
However, like the previous two days, the rates for the per tola and ten-grams of the white gold (silver) remained unchanged at Rs 2,600 and Rs 2,229.08 respectively.
Gold Price in International Market
Like the local bullion market, the rates for the precious metal in the international market also witnessed a major increase and went up $26 to settle at $2,135 against the previous day’s price of $2,109 per ounce.
The price of gold in the international market is continuously moving upward as experts believe it may go up further in a couple of days. Experts also waiting for the Federal Reserve Chair Jerome Powel’s speech on Wednesday about the decision of a possible rate cut in June, which would show the direction of the gold prices in future.
During the last couple of days, gold price went up by over $60 per ounce. The Price for the yellow metal in the local bullion market is mostly affected by the rates in the international market.
