Gold Prices Reach 6-Month High in Pakistan Amid Global Surge XAUUSD $2223.08

gold prices reach 6 month high in pakistan amid global surge

Gold prices in Pakistan have witnessed a significant surge, hitting a six-month high, with rates soaring to Rs. 232,400 per tola. Data released by the Karachi Sarafa Association indicates a notable increase in the price of gold, with 24-carat gold experiencing a rise of Rs. 4,600 per tola, reaching the aforementioned price. Similarly, the price of 10 grams surged by Rs. 3,943 to Rs. 199,245.

In the International Forex Market the highest price of Gold was observed on March 21, 2024 01:18, the price was $2223.08

This uptick in gold prices can be attributed to the record highs witnessed in the international market. Factors contributing to this surge include a decline in the US dollar and bond yields, following the Federal Reserve’s decision to maintain its projection of three rate cuts for the current year.

As of 0725 GMT, spot gold has seen a remarkable 1 percent increase, reaching $2,208.30 per ounce, after hitting an all-time high earlier during the session. Concurrently, US gold futures have surged by 2.3 percent to $2,211.