Gold price in Pakistan surged significantly on Thursday, with 24-karat gold now priced at Rs282,800 per tola after an increase of Rs2,300.
Overview of Gold Price Pakistan Trends
Gold prices have shown a steady increase, influenced by both local and international factors. The latest figures, provided by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), highlight the following changes:
- 24-Karat Gold (per 10 grams): Now sold at Rs242,455, marking a rise of Rs1,971.
- 22-Karat Gold (per 10 grams): Quoted at Rs222,250.
- Silver Prices (24-karat): Remain stable at Rs3,450 per tola and Rs2,958 per 10 grams.
These changes underline the fluctuating yet robust nature of the gold and silver markets in the country.
Factors Behind Gold’s Price Hike
Globally, spot gold traded at $2,716 an ounce, showing a minor decline of $3.7 or 0.14% from the previous session. Despite this, gold remains highly sought after, driven by increasing speculation of a potential interest rate cut by the Federal Reserve in the coming week. This possibility has created momentum for investors to adjust their portfolios.
Local Market Analysis
The domestic gold market often mirrors international trends while being influenced by the Pakistani rupee’s fluctuations and overall economic conditions. The FYTD and CYTD data illustrate a strong performance:
| Metric | 24-Karat Gold (per tola) | Silver (per tola) |
|---|---|---|
| December 12, 2024 | Rs282,800 | Rs3,450 |
| December 11, 2024 | Rs280,500 | Rs3,450 |
| Month-to-Date Change | +Rs10,900 | +Rs200 |
| Fiscal Year-to-Date (FYTD) | +Rs41,100 | +Rs600 |
| Calendar Year-to-Date (CYTD) | +Rs62,800 | +Rs770 |
What Does This Mean for Buyers and Investors?
The recent rise in gold prices may concern buyers, particularly those planning significant purchases like weddings. However, investors might view this as an opportunity to diversify portfolios or hedge against inflation.
Silver, meanwhile, remains a more affordable alternative, especially given its stable prices amidst the gold surge. The current market behavior highlights the need for strategic financial planning in precious metals.
Learn More About Gold and Silver Trends
To stay updated on the latest gold price movements and analysis, explore Daily Gold Signal. For comprehensive updates, visit their daily gold update section.
