Connect with us

Hi, what are you looking for?

Online Business Success

Gold glitters amid investor uncertainty, price rises by Rs750 per tola

408405 055738 updates

Gold bars. — Reuers/File
Gold bars. — Reuers/File
  • Gold price rises by Rs750 to settle at Rs131,200 per tola.
  • Yellow metal is gaining momentum due to political crisis and uncertainty.
  • Silver prices in the domestic market remain unchanged.

KARACHI: Investors are eyeing gold keenly as a weaker rupee and political uncertainties buoy interest in precious metals, however, the appetite of local consumers is being blunted.

The metal price was up by Rs750 at Rs131,200 per tola and increased by Rs643 to Rs112,483 per 10 grams.

The rates of gold were Rs130,450 per tola and Rs111,840 per 10 grams on Tuesday.

Gold is gaining momentum in the local market as it is considered a safe store of value during times of political crisis and uncertainty.

The gold price for local markets is determined by keeping in view its prices in world markets, rupee-dollar exchange rate, and demand and supply in local markets.

In the international market, bullion prices rose by $27 per ounce to settle at $1,927 buoyed by a weaker dollar and a slight pullback in U.S. bond yields.

Gold rates in Pakistan are around Rs5,000 below the cost compared to the rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,500 and Rs1,286 today.

Advertisement. Scroll to continue reading.


Source link

Click to comment

Leave a Reply


Top Stories

FTX founder Sam Bankman-Fried and Alameda Ventures made recent headlines for bailing out a handful of CeFi crypto platforms this week, but what exactly...

Top Stories

Although Bitcoin is struggling to form a bottom, altcoins are on a roll and the current price action could benefit UNI, XLM, THETA and...

Top Stories

Ethereum’s native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in...

Top Stories

The company enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. Source link


Interested in learning what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit...

Top Stories

Bitcoin (BTC) made the most of weekend volatility on June 26 as a squeeze saw BTC/USD reach its highest in over a week. BTC/USD...


You May Also Like


Introductions get a lot of attention. I’ve explored the topic of how to write them even though as a reader, I always skip them....

Online Business Success

The internet is now our nervous system. We are constantly streaming and buying and watching and liking, our brains locked into the global information...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Online Business Success

You can think of link building in many ways. I like to call it tedious, painful, and a test of patience. It’s also necessary...