Gold and silver prices remained stable until the morning of June 15, as the prices had jumped in the global and local markets last Saturday. Gold prices recorded a big increase on Saturday, after which gold reached a new high of Rs 444,000 per tola.
According to the All Pakistan Sarafa Gems and Jewelers Association, last Saturday, the price of 24-carat gold per tola increased by Rs 4,370, after which the new price became Rs 4,44,336 per tola. 10 grams of 24-carat gold became expensive by Rs 3,933 to Rs 3,79,880. Similarly, the price of 10 grams of 22-carat gold increased by Rs 3,570 and is being sold for Rs 3,48,493. Global market bullion
A bullion trend was also seen in the international bullion market. Gold is trading at $43.7 per ounce, up from $4,219 per ounce. This is one of the highest gold prices ever globally. According to experts, the price of gold is increasing due to the weakness of the dollar globally, geopolitical tensions, and the increasing interest of investors in safe investments. Silver is also expensive.
Along with gold, silver prices were also seen to increase. 24-karat silver rose by Rs200 per tola to Rs7,279. 10 grams of 24-karat silver is being sold for Rs6,199 with an increase of Rs171. Market reaction
Dealers at the bullion market say that buying is slowing down due to the continuous increase in prices. Buyers are now adopting a cautious approach, while investors are buying gold as a safe asset. Analysts believe that if the price of gold in the global market maintains the level of $4,200, then further growth in the local market is possible. However, price fluctuations are likely to continue.
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