Gold price in Pakistan saw a significant rise on Wednesday, with 24-karat gold trading at Rs274,300 per tola after an increase of Rs800. This development reflects global market trends, where spot gold prices experienced an upward movement. This article will explore the latest gold rates and their implications for investors.
Latest Gold Rates in Pakistan: November 2024 Update
The All-Pakistan Gems and Jewelers Sarafa Association (APGJSA) shared the updated rates, showing a notable price increase for 24-karat gold. Here’s a quick overview:
- 24-karat gold: Rs235,168 per 10-gram, up by Rs686
- 22-karat gold: Rs215,570 per 10-gram
While gold prices surged, silver prices remained stable in the local market. The rates for 24-karat silver stood at Rs3,250 per tola and Rs2,786 per 10-gram.
Global Gold Trends and Gold Price in Pakistan
On the international stage, gold prices rose modestly. Spot gold traded near $2,639 per ounce, an increase of $4.6 or 0.17% compared to the previous session. This upward trend signals growing interest from investors amid global economic uncertainties.
Comparative Gold and Silver Analysis
The table below summarizes recent trends for both gold and silver price in Pakistan:
| PKR (24-karat per tola) | Nov 20, 2024 | Nov 19, 2024 | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 274,300 | 273,500 | 800 | -8,000 | 32,600 | 54,300 |
| Silver | 3,250 | 3,250 | 0 | 100 | 400 | 570 |
The rise in gold prices highlights its continued demand as a secure investment. In contrast, silver prices remain steady, reflecting market stability.
What This Means for Investors
The gold price increase indicates a strong potential for short-term gains, particularly for traders and jewelers. For long-term investors, these trends underline gold’s role as a hedge against inflation and currency fluctuations.
For those seeking daily updates on gold rates, explore our daily gold signals for reliable insights. You can also visit our Daily Gold Update section for detailed analyses and predictions.
