In a session marked by stability, the domestic bullion market in Pakistan experienced a resolute day on Wednesday, with the price of 24-karat gold holding firm at Rs215,200 per tola.
Additionally, the 10-gram 22-karat gold was reported at Rs169,124, further contributing to the overall steady performance of the precious metal in the local market.
Silver, too, echoed the stability observed in the gold sector. The 24-karat silver was traded at Rs2,600 per tola and Rs2,229.08 per 10-gram, showcasing a consistent trend in the silver market.
Global market
On the global front, international spot gold showed resilience, currently trading at $2,029.28 [12:56 pm PST], maintaining its position without any significant change compared to the previous closing. This stability is likely to have an impact on the local market, providing a sense of reassurance to investors.
It's important to note that the domestic gold market faced a setback last week when the price experienced a notable drop of Rs2,150 per tola. Analysts attribute this decline to the influence of the downturn in international gold prices and the continuous strengthening of the local currency against the global benchmarks.
