Gold prices in Pakistan experienced a significant surge on Thursday, reflecting global trends influenced by the Federal Reserve’s indication of potential interest-rate cuts.
The price of 24-karat gold surged by Rs4,600 to reach Rs232,400 per tola, while the price for 10 grams of 24-karat gold rose to Rs199,245, marking an increase of Rs3,943.
Similarly, the price of 22-karat gold also increased, reaching Rs182,642 per 10 grams. Additionally, silver prices saw an uptick, with 24-karat silver being sold at Rs2,600 per tola and Rs2,229.08 per 10 grams, representing a rise of Rs20 per tola and Rs17.15 per 10 grams.
These fluctuations in gold and silver prices were influenced by global factors, including the Federal Reserve’s decision to maintain interest rates and its projection for potential rate cuts later in the year. International spot gold prices soared above $2,200 an ounce following the Fed’s announcement, signaling bullish sentiments in the global gold market.
