The Karachi Sarafa Association Gold Report recently highlighted a notable increase in the gold price in Pakistan. On Wednesday, the price of 24-karat gold rose to Rs252,800 per tola, marking a rise of Rs2,300. Additionally, the price for 24-karat gold per 10 grams increased to Rs216,735, showing an increment of Rs1,972.
Pakistan Gold Prices
The Karachi Sarafa Association Gold Report report also noted that the price of 22-karat gold climbed to Rs198,674 per 10 grams. In contrast, silver prices stayed the same in the domestic market, with 24-karat silver costing Rs2,920 per tola and Rs2,503 per 10 grams.
International Market Overview
On the international front, spot gold was trading at around $2,414 per ounce, reflecting an increase of $5.5 or 0.23% from the previous session.
Daily Price Movement
Here is a summary of the price changes for July 24, 2024:
- Gold (24-karat per tola): Rs252,800 (up by Rs2,300 from the previous day)
- Silver: Rs2,920 (no change)
Month-to-Date Change:
- Gold increased by Rs11,300.
- Silver rose by Rs70.
Year-to-Date Change:
- Gold surged by Rs32,800.
- Silver gained Rs240.
Future Outlook for Gold and Silver
The future outlook for gold and silver remains uncertain, as market participants await further economic data and geopolitical developments. Analysts predict that gold prices may continue to rise if inflationary pressures persist and central banks maintain dovish monetary policies. Silver, often seen as an industrial metal, could also see price fluctuations based on global manufacturing trends.
For more insights into the gold market and detailed reports, visit Daily Gold Signal. You can also explore this category page for daily updates.
