On Thursday, the gold price in Pakistan increased to Rs268,500 per tola, a rise of Rs800. This marks a new high for gold prices in the country, following changes in the global market.
Global Gold Trends
Globally, spot gold held steady after a bumpy trading session. The Federal Reserve recently cut interest rates by half a percentage point, which briefly pushed gold prices to a record high. By the end of the day, gold was trading near $2,579 per ounce, up by $20 or 0.78% from the previous session.
Local Gold Prices in Pakistan
The Karachi Sarafa Association reported that 24-karat gold now costs Rs230,195 per 10 grams, an increase of Rs685. Meanwhile, 22-karat gold rose to Rs211,012 per 10 grams.
Silver Prices Remain Unchanged
Silver prices stayed the same despite gold’s rise. The price of 24-karat silver held at Rs2,950 per tola and Rs2,529 per 10 grams.
Price Changes in Gold and Silver (Sep 18-19, 2024)
| Metal | Sep 19, 2024 Price | Sep 18, 2024 Price | Change | 1 Month Increase | Fiscal Year Growth | Year-to-Date Growth |
|---|---|---|---|---|---|---|
| Gold | Rs268,500 | Rs267,700 | Rs800 | Rs7,800 | Rs26,800 | Rs48,500 |
| Silver | Rs2,950 | Rs2,950 | Rs0 | Rs0 | Rs100 | Rs270 |
Gold has seen steady growth over the past month, increasing by Rs7,800 in just 30 days. Since the start of the fiscal year, gold has risen by Rs26,800, showing its continued value as an investment.
Conclusion
Gold price in Pakistan continue to rise, following global trends and the effects of interest rate changes. While gold remains volatile, silver has remained stable. Investors should keep track of these price changes to make informed decisions.
For the latest updates on gold prices, visit the daily gold updates or the Daily Gold Signal website.
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