Updated Gold Prices in Pakistan on December 28

Gold Prices Surge: 24-Karat Hits Rs220,600 per Tola on December 28

On December 28, the price of 24-karat gold experienced a notable increase, rising by Rs1,000 to reach Rs220,600 per tola for selling, as reported by the All Sindh Sarafa Jewellers Association. This marks a significant uptick compared to the previous price of Rs219,600 per tola.

Similarly, the price for 10 grams of gold saw an uptrend, recording an increase of Rs857 and now standing at Rs189,129, up from the earlier rate of Rs188,272.

For 22-karat gold, the price for 10 grams increased to Rs173,368 from Rs172,582.

Meanwhile, the price of silver also witnessed a rise, increasing by Rs30 to reach Rs2,680 per tola. The price for 10 grams of silver went up by Rs25.72, reaching Rs2,297.66.

In the international market, gold prices demonstrated a gradual increase on Wednesday, maintaining proximity to their highest levels in almost three weeks. This surge is attributed to market expectations that the Federal Reserve will commence interest rate cuts in the first quarter of 2024.

Spot gold marked an increase of nearly 0.1%, reaching $2,068.59 per ounce and is set to conclude the year with an impressive over 13% gain — the best performance since 2020.

US gold futures also experienced a rise of 0.5%, reaching $2,079.90 per ounce.