The local bullion market witnessed an upward trend in gold prices. After the price of gold per ounce reached $4,315 in the international market, the rate in Peshawar also increased.
The price of 24-karat gold was recorded at Rs 4,55,400 per tola in the morning. 22-karat gold with ornaments is being sold for Rs 4,38,400 per tola. The rate of 21-karat gold is Rs 4,18,600 per tola. According to the Pakistan Bullion Association at the national level, 24-karat gold is being sold for Rs 4,57,300 per tola, while 22-karat is being sold for Rs 4,19,189 per tola. The price of 24-carat gold per gram is around Rs 39,207. Reasons for the price increase
Traders in the bullion market say that the price of gold is affected by three factors. The international market rate has reached $4,315 per ounce. The second is the value of the rupee against the dollar, and the third is local supply and demand in Peshawar’s Qissa Khawani and Chowk Yadgar bullion markets. Due to the wedding season and the approach of Eid, the demand for jewelry increases, which also adds a premium of Rs 300 to 600 per tola to the retail market. Market Overview
Peshawar bullion market is a major trading centre in Pakistan, from where traders from Khyber Pakhtunkhwa and FATA also buy. Traders advise confirming the rate before buying and selling because the rate is updated every 30 minutes with the international market and the dollar price.
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