Gold price in Pakistan experienced a notable drop on Thursday, with 24-karat gold selling at Rs275,200 per tola, marking a decrease of Rs700. This change reflects broader trends in the gold market, both locally and globally. The price adjustments offer valuable insights for investors and consumers tracking gold rates.
Globally, spot gold recorded a minor gain, trading near $2,646 an ounce, which is an increase of $8.8 or 0.33% from the prior session. Despite international upticks, local markets have seen a contrasting movement.
Gold Price Updates in Pakistan
24-Karat Gold Rates
In the local market, the price of 24-karat gold per 10 grams dropped to Rs235,940, reflecting a Rs600 decline. This data was shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
Additionally, the price for 22-karat gold per 10-gram also dropped, settling at Rs216,278. Such shifts are influenced by international market trends, currency fluctuations, and local demand.
Silver Prices Remain Unchanged
In contrast to gold, silver prices have stayed stable in the domestic market. The price of 24-karat silver remains steady at Rs3,400 per tola and Rs2,915 per 10 grams. Stability in silver pricing often appeals to small-scale investors seeking an affordable precious metal.
Day-on-Day and Monthly Changes
A comparative table of prices reveals the day-on-day (DoD) shift:
| Metal | Nov 28, 2024 | Nov 27, 2024 | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | Rs275,200 | Rs275,900 | -Rs700 | -Rs9,800 | Rs33,500 | Rs55,200 |
| Silver | Rs3,400 | Rs3,400 | Rs0 | Rs50 | Rs550 | Rs720 |
Gold has seen a cumulative year-to-date (CYTD) increase of Rs55,200, demonstrating its long-term investment value despite short-term volatility.
International Gold Market Impact
Global gold prices have shown resilience despite fluctuating economic conditions. The increase of $8.8 in the spot price suggests sustained interest in gold as a safe-haven asset. These global trends significantly impact local price fluctuations.
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Conclusion
Tracking gold and silver prices is vital for investors, traders, and consumers alike. The recent decline in gold prices in Pakistan highlights shifting market dynamics. Staying updated on these trends can help in making informed decisions.
For daily updates and in-depth analysis, check out the Daily Gold Signal. You can also explore the Daily Gold Update section for the latest global trends and their impact on the domestic market.
