The gold price in Pakistan has reached an unprecedented peak. On Wednesday, the price of 24-karat gold surged to Rs264,000 per tola. This marks the highest value ever recorded for gold in the country.
Daily Surge in Gold Prices
On a daily basis, the gold price in Pakistan saw an increase of Rs2,300, hitting this new record. The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grams climbed to Rs226,337, marking an increase of Rs1,972 from the day before.
22-Karat Gold Prices Also Climb
The price of 22-karat gold has also witnessed a significant rise. As of Wednesday, it stood at Rs207,476 per 10 grams, reflecting the overall upward trend in the market.
Silver Prices Remain Steady
While gold prices continue to soar, silver prices in Pakistan have remained stable. The price of 24-karat silver stayed unchanged at Rs2,900 per tola, and Rs2,486 per 10 grams. This stability in the silver market contrasts sharply with the rapid rise in gold prices.
Global Gold Market Trends
Globally, the gold market is also witnessing an upward trend. Spot gold is currently trading at $2,522 an ounce, a modest increase of 0.13% or $3.2 from the previous session. This reflects a continuous rise in gold’s value worldwide, pushing prices in domestic markets like Pakistan.
Monthly and Yearly Gold Performance
Comparing the gold price in Pakistan over a month, there’s been a rise of Rs7,500 per tola. From the start of the fiscal year to date (FYTD), gold prices have surged by Rs22,300. Similarly, on a calendar year basis (CYTD), the price has jumped by Rs44,000 per tola.
| Gold Prices (PKR) | Sep 11, 2024 | Sep 10, 2024 | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold (24-karat) | 264,000 | 261,700 | 2,300 | 7,500 | 22,300 | 44,000 |
| Silver (24-karat) | 2,900 | 2,900 | 0 | 50 | 50 | 220 |
Conclusion
Gold price in Pakistan is at an all-time high, reflecting both local and global trends. This increase is significant for investors and anyone involved in the precious metals market. To stay updated with the latest gold prices and insights into market trends, you can visit Daily Gold Signal. For more daily gold price updates and information, check out the Daily Gold Updates section.
