Karachi, December 31, 2024 – Gold prices in Pakistan remained unchanged on Tuesday, reflecting the inactivity in global markets due to year-end holidays. This stability comes as most international markets remain closed for Christmas and New Year celebrations, leaving local bullion rates unaffected.
The price of 24-karat gold per tola held steady at Rs 272,600, unchanged from the previous day. This rate is significantly below the historic high of Rs 287,900 per tola, which was recorded on October 30, 2024. Similarly, 24-karat gold per 10 grams also remained at Rs 233,711, matching the price level from the day before.
Experts in the bullion market attributed the stagnation in gold prices in Pakistan to the lack of trading activity in the international markets. They noted that such inactivity is typical during this time of year when many countries observe extended holiday closures.
On the international front, gold prices also stayed stable at $2,614 per ounce, further contributing to the unchanged gold rates in the local market. With no fresh developments or fluctuations globally, the gold prices in Pakistan have mirrored this trend of stability.
The domestic gold market has experienced significant volatility in 2024, highlighted by the record-breaking surge in October. Despite this, the recent days have seen consistent stability due to global inactivity. Analysts suggest that once international markets resume normal operations, gold prices in Pakistan may experience shifts based on new global cues.
As gold remains a preferred investment and a store of value for many Pakistanis, especially during periods of economic uncertainty, these price movements continue to be closely monitored by traders and the public alike. Any developments in global bullion markets in the coming days will likely influence gold prices in Pakistan, potentially breaking the current stability.
For now, with international markets still largely inactive, the gold prices in Pakistan offer no surprises, providing a momentary pause for investors and traders.