After experiencing significant drops, the gold market in Pakistan witnessed a minor uplift on Tuesday, with rates climbing to Rs. 215,100 per tola.
The Karachi Sarafa Association reported a modest increase in 24-carat gold by Rs. 300 per tola, reaching Rs. 215,100. Similarly, the price for 10 grams of gold saw a rise of Rs. 257, setting at Rs. 184,413.
Following a substantial gain of Rs. 2,100 per tola last week, gold prices took a downturn, losing Rs. 1,700 per tola by the weekend’s close. The trend continued into the current week with an additional loss of Rs. 1,200 per tola. However, Tuesday’s slight increase has momentarily halted the precious metal’s downward trajectory.
Globally, gold prices are hovering around their lowest mark in almost two weeks. Spot gold remained steady at $2,025.24 per ounce in early trading, while U.S. gold futures saw a minor decrease of 0.1 percent to $2,041.30 per ounce.
This modest uptick in Pakistan‘s gold prices offers a glimmer of hope to investors following a period of notable declines, reflecting the volatile nature of the global gold market.