In the latest market update on Wednesday, the price of 24-karat gold demonstrated an upward trajectory, increasing by Rs750 per tola to reach Rs215,200 per tola, as reported by the Karachi Sarafa Association. Additionally, there was a slight rise observed in the price of 10-gram 24-karat gold, reaching Rs184,500, marking an increase of Rs644 compared to the previous session. Similarly, the price of 10-gram 22-karat gold experienced an uptick, reaching Rs169,124.
Global traders are eagerly awaiting the release of the meeting minutes from the US Federal Reserve held on January 30 and 31, which are expected to offer valuable insights into the economic outlook and potential shifts in policy.
Meanwhile, silver prices remained steady, with 24-karat silver maintaining a selling price of Rs2,580 per tola, and 10-gram silver being traded at Rs2,211.93.
It’s worth noting that domestic gold ended the previous week on a downward trend due to a decline in international prices. In terms of global trends, international spot gold hovered around $2,028, reflecting a 0.2 per cent change compared to the previous session.
Market participants are eagerly anticipating the release of the minutes from the Federal Reserve’s January policy meeting scheduled for Wednesday, which are expected to offer valuable insights into the central bank’s stance and potential future monetary policy adjustments.
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