The gold price in Pakistan experienced a notable shift on Thursday, with significant changes in gold prices. The value of gold has risen considerably, reflecting the latest trends in the local and global markets. This update will explore the recent price changes, compare them with previous figures, and provide insights into the broader context of these fluctuations.
Current Gold Price Trends
Gold Price Increase
On August 1, 2024, the price of 24-karat gold in Pakistan saw a substantial increase. It is now trading at Rs254,900 per tola, marking an uplift of Rs1,400 from the previous day. This rise reflects a significant change in the local gold market.
24-Karat Gold Pricing
The Karachi Sarafa Association reported that the price for 24-karat gold has also risen. As of the latest update, it is quoted at Rs218,536 per 10 grams, which is an increase of Rs1,201. This uptick demonstrates a broader trend of rising gold prices.
22-Karat Gold Pricing
Similarly, the price for 22-karat gold has been adjusted higher, now standing at Rs200,324 per 10 grams. This price shift is part of the overall increase in the gold market.
Silver Prices Remain Stable
Despite the fluctuations in gold prices, silver prices in the domestic market have remained steady. The current price for 24-karat silver is Rs2,900 per tola and Rs2,486 per 10 grams. This stability in silver prices contrasts with the recent volatility in gold prices.
Global Gold Market Update
Globally, spot gold is trading close to $2,433 per ounce. This reflects a decrease of $12.3, or 0.50%, from the previous session. These global figures highlight the interconnected nature of the gold market.
Price Comparison
Here is a summary of the recent price changes:
- Gold:
- August 1, 2024: Rs254,900 per tola
- July 31, 2024: Rs253,500 per tola
- Day-to-Day Change: Rs1,400
- 1 Month Change: Rs13,400
- FYTD Change: Rs13,200
- CYTD Change: Rs34,900
- Silver:
- August 1, 2024: Rs2,900 per tola
- July 31, 2024: Rs2,900 per tola
- Day-to-Day Change: Rs0
- 1 Month Change: Rs50
- FYTD Change: Rs50
- CYTD Change: Rs220
For daily updates and detailed analysis of gold prices, visit Daily Gold Signal. For more information on gold trends and market insights, check out the Daily Gold Update.
