ISLAMABAD: After going down by Rs1600 during the last two working days, the per tola price of 24 karats of gold turned back to the upward movement as on Tuesday it witnessed an increase of Rs.400 and was available in the local bullion market at Rs.227,300 against the previous day’s ale of Rs. 226,900 per tola.
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.343 to settle at Rs.194,873 from the last day rates of Rs194,530 while the rates for the 10 grams of 22 karats of the yellow metal increased to Rs.178,634 against the last day price of Rs. 178,319.
However, the rates for the per tola and ten grams of the white plate (silver) remained constant at Rs.2,580 and Rs.2,211.93 respectively
Gold Price in International Market
Like the local bullion market, the price for the precious metal in the international market also observed an increase of $3 to settle at $2,173 from the previous day’s price of $.2,170 per ounce.
One of the major reasons for the recent increase (last week) in the price of gold in the international market is the continued investment from Chinese investors in the bullion market due to the shrinking of the real estate and construction sector they turned to invest in safe heaven.
During the last couple of days (except the last 2 days) gold prices increased by more than $90 per ounce. The Price of the precious metal in the local bullion market is mostly affected by the price in the international market.
