Gold price in Pakistan saw a notable decrease on Tuesday, with 24-karat gold dropping by Rs700 per tola. The latest rate for 24-karat gold stands at Rs275,000 per tola. This shift reflects a continued fluctuation in both local and international markets.
Globally, spot gold prices showed a slight increase, trading at $2,652 per ounce, reflecting a rise of $3.2, or 0.12%, compared to the previous session.
Breakdown of Local Gold Rates
The Karachi Sarafa Association, responsible for reporting official local gold prices, also indicated a decline in the 10-gram rate of 24-karat gold, which fell by Rs600, bringing it to Rs235,768. The price of 22-karat gold, commonly used in jewelry, also witnessed a decrease, standing at Rs216,121 per 10 grams.
This drop in gold prices could be influenced by several factors including economic conditions, market speculation, and changing global trends. With gold traditionally being a safe haven for investors, shifts in its price often reflect broader market sentiments, both in Pakistan and globally.
Local Gold Rates
The Karachi Sarafa Association, which tracks local gold rates, reported that the price of 24-karat gold is now Rs235,768 per 10 grams, down by Rs600. Meanwhile, the price of 22-karat gold also decreased, reaching Rs216,121 per 10 grams.
While gold prices fluctuated, silver prices in the domestic market remained stable. The 24-karat silver is being sold at Rs3,050 per tola, with the price for 10 grams standing at Rs2,615.
A Comparison of Recent Gold and Silver Prices
| PKR (24-karat per tola) | October 15, 2024 | October 14, 2024 | DoD Change | 1-Month Change | FYTD Change | CYTD Change |
|---|---|---|---|---|---|---|
| Gold | 275,000 | 275,700 | -700 | 7,000 | 33,300 | 55,000 |
| Silver | 3,050 | 3,050 | 0 | 100 | 200 | 370 |
Gold has experienced a significant drop, while silver remains unaffected by these recent market changes.
Conclusion:
Gold price in Pakistan continue to fluctuate, reflecting both domestic and international trends. Investors may need to monitor these shifts closely to make informed decisions. For more updates on gold prices, check out Daily Gold Signal, and for the latest global updates, visit Daily Gold Update.
