KARACHI: The price of 24 karat per tola gold increased by Rs.1, 000 and was sold at Rs 273,600 on Wednesday against its sale at Rs 274,200 the previous day, ARY News reported.
According to All Sindh Sarafa Jewellers Association, the price of 10 grams of 24-karat gold also increased by Rs.857 to Rs 234,568 from Rs 235,368 recorded on Tuesday.
The rate of gold in the international market increased by $18to $2,645 from $2,628, the association added.
Gold, recognised 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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