Downward Trend in Precious Metal Prices Halts; International Gold Rises by $6 While Local Rates Register an Increase
KARACHI: Gold prices across the world and in the country have finally turned up, ending a prolonged downward trend in recent trading sessions.
The price of 24-carat gold up in domestic markets rose by Rs600 per tola to Rs435,036 and the price of 10-gms rose by Rs515 to Rs372,973, said the All Pakistan Sarafa Association.
Some of the important high points in the gold and silver market movements are mentioned below:
International Spot Gold: Spot gold on the international market rose $6 to $4,125 an ounce.
Domestic Gold Rebound: Local bullion dealers pointed out the minor bounce-up in price has been a welcome relief for the domestic buyers and investors, as it comes after a series of negative consecutive moves.
Silver Prices fell Further: Silver prices in Pakistan continued to decline further, per-tola silver fell by Rs120 to trade at Rs6,368.