{"id":2351,"date":"2024-08-23T03:45:56","date_gmt":"2024-08-23T03:45:56","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/gold-rate-continue-to-climb-locally-despite-global-market-decline-the-express-tribune\/"},"modified":"2024-08-23T03:45:56","modified_gmt":"2024-08-23T03:45:56","slug":"gold-rate-continue-to-climb-locally-despite-global-market-decline-the-express-tribune","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/gold-rate-continue-to-climb-locally-despite-global-market-decline-the-express-tribune\/","title":{"rendered":"Gold rate continue to climb locally despite global market decline | The Express Tribune"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<figure class=\"flex items-center text-center\"><figcaption class=\"text-3 font-sans uppercase mr-3 whitespace-no-wrap\"><span class=\"ls-art\">Listen\u00a0to\u00a0article<\/span><\/figcaption><audio class=\"h-5 w-60 sm:w-80 rounded-none\" preload=\"metadata\" controlslist=\"noplaybackrate nodownload\" id=\"tts\" controls=\"\" src=\"https:\/\/i.tribune.com.pk\/attachments\/speech_20240823084948290-LmB0p.mp3\"\/><br \/>\n<\/figure>\n<p>Gold prices in Pakistan have continued their upward trend, even as global rates have seen a decline for the second consecutive day.<\/p>\n<p>On Friday, the price of 24-carat gold in Pakistan increased by Rs200 per tola, pushing the new rate to Rs262,000. The price of 10 grams of gold also saw a rise of Rs172, reaching Rs224,623.<\/p>\n<p>In contrast, the international bullion market reported a $12 decrease per ounce, bringing the global gold price to $2,492 per ounce.<\/p>\n<p>Meanwhile, silver prices in Pakistan remained unchanged, with the per tola price steady at Rs2,950 and the per 10 grams price holding at Rs2,529.14.<\/p>\n<p>This follows a similar trend from the previous day, where local gold prices surged by Rs800 per tola and Rs686 per 10 grams, despite an $8 decrease in the global market.<\/p>\n<p>On August 17, gold spiked Rs2,500 and settled at a new all-time high of Rs260,200 per tola (11.66 grams) on the back of strong demand for the precious metal in global markets over likely depreciation of some of the world&#8217;s currencies and potential reduction in the US interest rate next month.<\/p>\n<p>According to the All Pakistan Saraf Gems and Jewellers Association, the yellow metal soared $46 to a new record high at $2,507 per ounce (31.10 grams) in the international market.<\/p>\n<p>Despite hitting the historic high in local market, the association said, gold cost Rs4,500 per tola less than the international market in Dubai.<\/p>\n<p>Talking to The Express Tribune, Interactive Commodities Director Adnan Agar said world markets were speculating that bullion may test $2,600-2,700\/ounce in the next one month till mid-September 2024.<\/p>\n<p>However, a massive drop in its price cannot be ruled out. Financial institutions, making strong buying of the precious metal, are anticipated to resort to profit-selling after reduction in the US interest rate, potentially in mid-September.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/tribune.com.pk\/story\/2490408\/gold-rates-continue-to-climb-locally-despite-global-market-decline\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen\u00a0to\u00a0article Gold prices in Pakistan have continued their upward trend, even as global rates have seen a decline for the second consecutive day. On Friday, the price of 24-carat gold in Pakistan increased by Rs200 per tola, pushing the new rate to Rs262,000. The price of 10 grams of gold also saw a rise of&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/gold-rate-continue-to-climb-locally-despite-global-market-decline-the-express-tribune\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Gold rate continue to climb locally despite global market decline | The Express Tribune&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":2352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/golddd1717757267-0\/golddd1717757267-0.jpg","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[69,202],"class_list":["post-2351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","tag-latest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold rate continue to climb locally despite global market decline | The Express Tribune - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ventil.rs\/blog\/business\/gold-rate-continue-to-climb-locally-despite-global-market-decline-the-express-tribune\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold rate continue to climb locally despite global market decline | The Express Tribune\" \/>\n<meta property=\"og:description\" content=\"Listen\u00a0to\u00a0article Gold prices in Pakistan have continued their upward trend, even as global rates have seen a decline for the second consecutive day. On Friday, the price of 24-carat gold in Pakistan increased by Rs200 per tola, pushing the new rate to Rs262,000. 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