Gold price in Pakistan experienced an increase on Tuesday, December 3, 2024. The price of 24-karat gold increased by Rs700 per tola, reaching a new total of Rs275,200. This marks a steady rise as local and global factors continue to influence the precious metals market.
Gold Price in Pakistan – Latest Surge Locally
The All-Pakistan Gems and Jewelers Sarafa Association (APGJSA) reported a corresponding rise in gold’s 10-gram price. The cost of 24-karat gold in Pakistan increased by Rs600, reaching Rs235,940 for 10 grams. Meanwhile, 22-karat gold was priced at Rs216,278 per 10 grams.
Silver prices, however, remained steady. The price of 24-karat silver stood at Rs3,400 per tola and Rs2,915 per 10 grams in the domestic market.
Gold Price in Pakistan – International Market Update
Globally, gold prices also saw an uptick. Spot gold was trading at $2,646 per ounce, showing a modest increase of $4.1 or 0.16% from the previous trading session. Factors such as expectations of U.S. rate cuts and ongoing geopolitical tensions have contributed to this upward trend.
PKR Price Movement
A quick glance at the price changes for December 3, 2024, shows the following:
| Category | Today | Yesterday | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold (24K per tola) | Rs275,200 | Rs274,500 | Rs700 | -Rs8,500 | Rs33,500 | Rs55,200 |
| Silver (per tola) | Rs3,400 | Rs3,400 | Rs0 | -Rs30 | Rs550 | Rs720 |
What’s Driving Gold Prices?
Several factors influence gold prices:
- Demand and Supply: A rise in demand or constrained supply often leads to price increases.
- Global Economic Factors: Speculation around U.S. interest rate cuts and geopolitical developments has bolstered international gold rates.
- Currency Fluctuations: Changes in PKR against the dollar also impact gold prices domestically.
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