The domestic bullion market continued its upward momentum on Thursday, with the price of 24-karat gold rising by Rs1,500, bringing the total to Rs277,000 per tola. This increase marks the third consecutive rise in the price of gold, keeping investors and traders on edge.
Recent Trends in the Gold Market
According to the Karachi Sarafa Association, the price of 24-karat gold per 10-gram reached Rs237,482, up by Rs1,285 from the previous day. Additionally, the price of 22-karat gold was reported at Rs217,693 per 10-gram. These consistent rises in the price reflect a steady trend in the domestic gold market.
Silver Prices Remain Stable
Unlike gold, silver prices remained unchanged in the domestic market. The price of 24-karat silver stood at Rs3,050 per tola and Rs2,615 per 10-gram. There were no changes recorded for silver, maintaining its stability amidst the shifting gold prices.
Global Gold Market Overview
On the international stage, spot gold traded near $2,677 an ounce, showing an increase of $20 or 0.75% from the previous session. This rise aligns with the global demand for gold as a hedge against economic uncertainties, influencing the domestic market prices as well.
Comparing Gold and Silver Prices Over Time
| PKR (24-karat per tola) | Sep 26, 2024 | Sep 25, 2024 | Change (DoD) | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 277,000 | 275,500 | 1,500 | 13,300 | 35,300 | 57,000 |
| Silver | 3,050 | 3,050 | 0 | 100 | 200 | 370 |
Gold prices have been steadily rising, as evidenced by the year-to-date (CYTD) increase of Rs57,000. Silver prices, on the other hand, have remained relatively stable, with minor fluctuations over time.
Conclusion
In summary, gold continues its rally in the domestic market, with prices reaching record highs, while silver remains stable. For traders and investors looking to stay updated with the latest gold and silver price movements, it is crucial to monitor both domestic and global trends closely.
For more updates on gold prices and market trends, you can visit Daily Gold Signal for the latest insights. To stay updated on daily gold market fluctuations, check the Daily Gold Update for in-depth analyses.
