Gold and silver prices in Pakistan have increased recently, driven by weak economic data from the United States. This article explains the latest price changes in gold and silver prices in Pakistan and how they are influenced by global events.
Gold Prices in Pakistan
On Wednesday, the price of 24-karat gold went up by Rs2,500, reaching Rs275,500 per tola. The Karachi Sarafa Association also reported that the price of 24-karat gold per 10-gram increased by Rs2,144, bringing it to Rs236,197. The price of 22-karat gold also rose, now priced at Rs216,514 per 10-gram.
Globally, spot gold hit a record high of $2,670 per ounce but later dropped slightly. The rise in gold price is linked to concerns about the US economy, particularly a report showing a drop in consumer confidence.
Silver Prices Increase
Silver prices in Pakistan also went up, increasing by Rs100 to Rs3,050 per tola. While the increase isn’t as large as gold, silver price are also affected by the same global economic conditions.
Gold and Silver Price Overview
Here’s a summary of the recent changes in gold and silver price in Pakistan:
| Metal | Sep 25, 2024 | Sep 24, 2024 | Daily Change (DoD) | 1 Month Change | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold (per tola) | Rs275,500 | Rs273,000 | Rs2,500 | Rs11,800 | Rs33,800 | Rs55,500 |
| Silver (per tola) | Rs3,050 | Rs2,950 | Rs100 | Rs100 | Rs200 | Rs370 |
As shown, both gold and silver prices have seen steady increases.
Global Impact on Local Prices
The rise in gold price in Pakistan is mainly due to global trends. A recent report showed that US consumer confidence dropped significantly, which is leading to expectations that the US Federal Reserve might reduce interest rates. This weakens the US dollar, making gold and silver more attractive to investors.
What to Expect Next
Looking ahead, gold and silver prices may continue to fluctuate as global economic conditions change. Investors often turn to gold during uncertain times, and with the current state of the economy, this trend is expected to continue.
For more daily updates on gold and silver prices, visit Daily Gold Signal. You can also check out their Daily Gold Update for in-depth market analysis and global factors affecting gold prices.
Staying informed can help you better understand the changes in gold and silver prices.
