The gold price in Pakistan witnessed a significant drop in prices, with a decrease of Rs2,300 per tola for 24-karat gold. This price drop comes after gold hit a record high just a day earlier. The current rate stands at Rs283,100 per tola as of Thursday, signaling a decline in the value of the precious metal.
On the international market, the value of spot gold experienced an uptick, reaching $2,735 per ounce, reflecting an increase of $13.6 or 0.50% compared to the previous session. Despite global prices rising, the local market saw a contrasting trend.
Gold Prices in Pakistan
In the domestic market, the Karachi Sarafa Association reported that the price of 24-karat gold decreased to Rs242,713 per 10 grams, showing a Rs1,971 drop from the prior day’s rate. Similarly, 22-karat gold, a popular alternative, also saw a reduction, with its price settling at Rs222,487 per 10 grams.
Gold prices are always influenced by both local and global economic factors. Pakistan gold price often mirrors fluctuations in international rates but is also impacted by local economic conditions, such as inflation and currency fluctuations.
Silver Prices Hold Steady
Unlike gold, silver prices in the domestic market remained unchanged after a notable surge earlier. The price of 24-karat silver held steady at Rs3,350 per tola. This came after a jump of Rs200 per tola on Wednesday. While gold has seen fluctuations, silver has shown resilience in maintaining its recent gains.
Daily Price Update (Oct 24, 2024)
- Gold Price (24-karat per tola): Rs283,100 (-Rs2,300)
- Gold Price (24-karat per 10-gram): Rs242,713 (-Rs1,971)
- Silver Price (24-karat per tola): Rs3,350 (no change)
Here’s a brief summary of gold’s price movement:
| Metal | Date | Price (24k per tola) | Change (DoD) | 1-Month Change | FYTD Change | CYTD Change |
|---|---|---|---|---|---|---|
| Gold | Oct 24, 2024 | Rs283,100 | -Rs2,300 | Rs7,600 | Rs41,400 | Rs63,100 |
| Silver | Oct 24, 2024 | Rs3,350 | No change | Rs300 | Rs500 | Rs670 |
Gold has experienced a year-to-date increase of Rs63,100, illustrating the metal’s growing demand and value despite occasional dips like the one seen today.
For more insights and daily updates on the gold market, visit Daily Gold Signal and explore the detailed Daily Gold Updates for the latest trends.
