As of 9:00 AM on Friday, July 28, 2023, the latest rates for gold and silver in the Pakistani market have been updated, providing a snapshot of the current pricing in both local and international markets. These figures serve as key indicators for traders, investors, and those involved in the jewelry business.
In the domestic market, gold continues to hold its status as a valuable commodity and a traditional hedge against inflation. The price of gold (24 Karat) has reached Rs224,700 per tola, while the rate for 10 grams stands at Rs192,644. For gold of 22 Karat purity, the price is recorded at Rs168,564 per 10 grams. These rates reflect the close of the previous trading session and offer guidance for current transactions.
Globally, the gold rate is trading at $1,975 per ounce, influenced by a combination of factors including inflation data, interest rate expectations, and geopolitical tensions. These international prices directly impact local market dynamics and investor sentiment.
Meanwhile, silver prices have also shown notable movement. In Pakistan, 24 Karat silver is priced at Rs2,750.00 per tola, with 10 grams being valued at Rs2,357.68. In the global market, the silver rate is currently at $25.16 per ounce, reflecting increased demand in industrial and investment sectors.
It is important to understand that these rates are indicative and subject to fluctuation based on changes in international markets, supply and demand, and currency exchange rates. The platform sharing this data is not liable for any discrepancies and urges users to verify prices with trusted local dealers before making any financial decisions.
Investors interested in gold or silver should be aware that while these metals often provide stability during economic uncertainty, they are not risk-free. Market volatility can affect returns, and individuals are strongly advised to seek expert financial guidance to ensure their investment choices align with their long-term goals and risk tolerance.