The gold price in Pakistan has dropped, with 24-karat gold now priced at Rs260,400 per tola, a decrease of Rs1,100. This drop continues a trend from the past week, where gold price in Pakistan fell by Rs1,000 per tola. The main reason for this decline is uncertainty in the market caused by a mixed U.S. jobs report, which affects expectations about interest rate changes from the Federal Reserve.
Gold Price in Pakistan Today
The Karachi Sarafa Association reported that 24-karat gold is priced at Rs223,251 per 10 grams, a decrease of Rs943. The price of 22-karat gold also dropped, now selling for Rs204,647 per 10 grams. Meanwhile, silver prices in the local market stayed the same, with 24-karat silver at Rs2,850 per tola and Rs2,443 per 10 grams.
Global Gold Market Overview
In the global market, gold traded at around $2,496 per ounce, down by just $0.3 or 0.01% from the last session. This slight dip reflects the ongoing uncertainties in the market.
| PKR (24-karat per tola) | Sep 09, 2024 | Sep 07, 2024 | Change | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 260,400 | 261,500 | -1,100 | 3,900 | 18,700 | 40,400 |
| Silver | 2,850 | 2,850 | 0 | 0 | 0 | 170 |
What Should Gold Investors Do?
For gold investors in Pakistan, this price drop might be a good chance to buy at a lower cost. However, it’s important to keep watching both local and global markets. The U.S. interest rate changes could still affect gold rate in the future.
For more updates on gold prices, visit Daily Gold Signal. You can also check out the Daily Gold Update for the latest news.
