The gold price in Pakistan experienced a slight decline on Monday after reaching a record high in the previous session. The 24-karat gold price decreased by Rs200, bringing it down to Rs260,000 per tola. This dip follows a period of significant gains, reflecting broader market trends.
Gold Price Overview
The current price of 24-karat gold price in Pakistan remains Rs4,000 below its actual cost, marking a notable discrepancy. Despite this drop, gold prices have risen by 18% or Rs40,000 per tola this year, driven by expectations of monetary easing and substantial central bank purchases.
Detailed Price Breakdown
According to the Karachi Sarafa Association, the price of 24-karat gold is now Rs222,908 per 10-gram, a reduction of Rs172. The price of 22-karat gold has also decreased, now quoted at Rs204,332 per 10-gram.
Silver Price Stability
In contrast to gold, silver prices remained steady in the domestic market. The price of 24-karat silver continues to be Rs2,950 per tola and Rs2,529 per 10-gram, showing no change.
Global Gold Market Update
Globally, spot gold was trading near $2,504 per ounce, down by $2.3 or 0.09% from the previous session. This slight decrease reflects ongoing market adjustments and investor sentiment.
Outlook for Gold Price In pakistan
Looking ahead, the outlook for gold prices in Pakistan remains uncertain. While the recent dip may offer buying opportunities for investors, the broader trend will likely be shaped by global economic conditions and domestic factors such as currency fluctuations and inflation rates. Analysts suggest that if global economic uncertainty persists, gold prices could see further increases in the coming months. However, a strengthening US Dollar or positive economic data could exert downward pressure on gold prices.
Conclusion
The gold and silver markets in Pakistan show contrasting trends, with gold prices slightly falling while silver remains stable. For further updates and detailed analysis, you can visit Daily Gold Signal for internal updates and Daily Gold Update for external news.
