The gold price in Pakistan witnessed a notable rise in prices on Friday. The price of 24-karat gold has increased by Rs1,400, bringing the current rate to Rs263,500 per tola. This surge in gold prices highlights the ongoing volatility in the market, influenced by both local and global factors.
Gold Price Update for 24-Karat Gold
According to the Karachi Sarafa Association, the price of 24-karat gold per 10 grams has also seen an increase, now standing at Rs225,908. This represents a rise of Rs1,200 from the previous day’s price. The consistent increase in gold price in Pakistan is a reflection of the demand and changing economic conditions in Pakistan.
22-Karat Gold Price
Similarly, 22-karat gold has seen an uptick in its price. The cost per 10 grams has now reached Rs207,083, indicating a significant rise. This increase suggests that both investment and consumer interest in gold remain strong, even as prices climb.
Stability in Silver Prices
While gold prices have risen, the price of silver has remained stable in the domestic market. The 24-karat silver is still being sold at Rs2,900 per tola and Rs2,486 per 10 grams. Despite the fluctuations in gold, silver prices have maintained their position, offering an alternative for those looking to invest in precious metals.
Global Gold Market Trends
On the international stage, spot gold has also shown a slight increase. It traded near $2,519 per ounce, up by $1.8 or 0.07% from the previous session. This minor rise in the global gold price reflects broader economic trends, with many investors seeking safe-haven assets amid global uncertainties.
Summary of Price Changes
The table below summarizes the recent changes in gold and silver prices in Pakistan:
| Metal | Price (PKR) – Sep 06, 2024 | Price (PKR) – Sep 05, 2024 | Change (DoD) | 1 Month Change | FYTD Change | CYTD Change |
|---|---|---|---|---|---|---|
| Gold | 263,500 | 262,100 | 1,400 | 8,000 | 21,800 | 43,500 |
| Silver | 2,900 | 2,900 | 0 | 50 | 50 | 220 |
Conclusion
The recent increase in gold prices in Pakistan reflects the dynamic nature of the market. With global trends and local demand influencing the rates, it’s essential for investors to stay informed. For those interested in regular updates on gold prices and market trends, visit Daily Gold Signal for more insights.
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