The gold price update in Pakistan saw a significant rise on Tuesday, with the price of 24-karat gold increasing by Rs1,300 per tola. This surge pushed the price to Rs261,700 per tola. The price of 24-karat gold per 10 grams also increased by Rs1,114, reaching Rs224,365.
In a similar trend, 22-karat gold prices have also gone up, with the new price being Rs205,668 per 10 grams. This consistent increase in gold prices reflects both domestic and international factors affecting the market.
Silver Prices Also Rise
Alongside gold, silver prices have risen in the domestic market. The price of 24-karat silver increased by Rs50 per tola, bringing it to Rs2,900. Silver’s price per 10 grams also rose by Rs43, reaching Rs2,486.
International Gold Market Update
On the global front, spot gold saw a minor drop. Trading was recorded at $2,506 per ounce, showing a slight decline of $0.5 or 0.02% from the previous trading session. While the domestic market witnessed a price increase, the international market presented a mixed trend.
Gold and Silver Price Comparison
A comparison between September 9 and September 10, 2024, reveals that gold prices have seen a significant change. The price of 24-karat gold rose by Rs1,300 per tola. Over the last month, gold prices have surged by Rs5,200, while the fiscal year-to-date (FYTD) increase stands at Rs20,000. Year-to-date (CYTD), gold prices have climbed by Rs41,700.
Similarly, silver prices have seen a steady rise of Rs50 per tola in the same period. In comparison to the previous month and year, silver prices have not fluctuated much, reflecting relative stability in the market.
Factors Behind the Price Surge
The increase in gold and silver prices is driven by various factors, including international market trends, exchange rate fluctuations, and economic conditions within Pakistan. Investors often turn to gold as a safe-haven asset during times of economic uncertainty, which further pushes the prices upward.
Gold Price Outlook for Investors
As the global and domestic markets experience these fluctuations, investors are advised to stay updated with daily gold price changes. For the latest updates on gold prices and expert opinions on investment strategies, you can follow Daily Gold Signal. Additionally, you can stay informed with regular gold price updates for better investment decisions.
Conclusion
In summary, gold price update in Pakistan saw a sharp rise, and silver prices followed suit, reflecting broader economic trends. The international market, however, remained relatively stable, with minor fluctuations. Investors should keep a close watch on the market trends to make informed decisions.
