The gold price in Pakistan experienced a significant decline on Tuesday, with 24-karat gold falling by Rs500 per tola. This drop highlights ongoing fluctuations in the gold market, impacting both investors and consumers. Understanding these changes is crucial for those monitoring gold trends.
Current Gold Price
Gold Price Reduction
As of July 23, 2024, the gold in Pakistan for 24-karat gold is Rs250,500 per tola, reflecting a decrease of Rs500 from the previous day. The Karachi Sarafa Association reported the gold of 24-karat gold at Rs214,763 per 10-gram, down by Rs429.
Global Economic Conditions
Gold prices are highly sensitive to global economic conditions. Fluctuations in the US dollar, changes in interest rates, and geopolitical tensions can all impact the value of gold. Recently, global uncertainties and economic shifts have played a significant role in driving gold prices up and down.
22-Karat Gold
Similarly, the Pakistan gold price for 22-karat gold is now Rs196,866 per 10-gram, showing a downward trend.
Silver Prices
Stability in Silver Prices
In contrast, the silver price has remained stable. Currently, 24-karat silver is priced at Rs2,920 per tola and Rs2,503 per 10-gram.
Global Market Overview
Spot Gold Prices
On the global stage, the spot gold is near $2,395 per ounce, maintaining stability compared to the previous session.
Daily and Monthly Trends
| PKR (24-karat per tola) | Jul 23, 2024 | Jul 22, 2024 | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 250,500 | 251,000 | -500 | 8,500 | 8,800 | 30,500 |
| Silver | 2,920 | 2,920 | 0 | 70 | 70 | 240 |
For the latest updates on the gold price and silver trends, visit Daily Gold Signal. For daily gold update, explore their category page.
