The price of 10 grams of 24 karat gold also increased by Rs.1,200 to Rs.234,911 from Rs. 233,711 whereas that of 10 grams 22 karat gold went up to Rs.215,335 from Rs 214,235, All Sindh Sarafa Jewellers Association reported.
The prices of per tola and ten-gram silver remained constant at Rs 3,350 and Rs. Rs 2,872.08 respectively.
The price of gold in the international market increased by $14 to $2,628 from $2,614, the Association reported.
Gold prices edge lower in the subdued holiday season
Gold, recognized as a highly esteemed precious metal, has held significant value for centuries and is integral to the global economy. Its worth is derived from its rarity, resilience, and universal attraction. Often viewed as a safe-haven asset, gold is utilized to safeguard wealth during periods of economic uncertainty.
Central banks and investors hold gold reserves to enhance the diversity of their investment portfolios and to shield against inflation and fluctuations in currency value.
The intrinsic appeal and finite supply of gold make it a highly desired material for jewelry and luxury goods. The demand for gold jewelry fosters economic activity across the mining, manufacturing, and retail industries.
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