Gold price in Pakistan reached a new high on Wednesday, with 24-karat gold now being sold at Rs277,200 per tola. This marks an increase of Rs2,200 from the previous day. So far this year, gold has increased by 26%, mainly due to hopes of an interest rate cut by the US Federal Reserve, making gold more attractive.
Latest Gold and Silver Prices in Pakistan
According to the Karachi Sarafa Association, 24-karat gold is now priced at Rs237,654 per 10-gram, up by Rs1,886. The price of 22-karat gold has also risen, now at Rs217,850 per 10-gram. Meanwhile, silver prices remain unchanged, with 24-karat silver priced at Rs3,050 per tola and Rs2,615 per 10-gram.
Global Gold Prices
Globally, gold prices are also rising. Spot gold was last traded at $2,676 an ounce, up by $15.6 or 0.59% from the previous session. This global trend is also affecting local markets as gold is seen as a safe investment during uncertain times.
Gold and Silver Market Update
While gold price have been rising, silver prices in Pakistan have stayed the same. Here’s a quick look at current gold and silver prices:
| PKR (24-karat per tola) | Oct 16, 2024 | Oct 15, 2024 | Change | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 277,200 | 275,000 | 2,200 | 9,200 | 35,500 | 57,200 |
| Silver | 3,050 | 3,050 | 0 | 100 | 200 | 370 |
The rise in gold prices is influenced by global factors, like economic uncertainty, making it a popular investment. Investors are watching interest rates and inflation data closely, as these can impact gold prices.
For more information on gold prices, visit Daily Gold Signal. You can also check regular updates at their Daily Gold Update section.
