Gold price in Pakistan have gone increase again, with a new rise of Rs1,600 for 24-karat gold, bringing the rate to Rs245,600 per tola. This increase shows the effect of both local conditions and changes in global markets. For buyers and investors, understanding these trends can help make better decisions about gold.
New Gold Price Rise in Pakistan
On Thursday, 24-karat gold price in Pakistan increase by Rs1,600 per tola, now priced at Rs245,600. Experts share that this price is set Rs3,000 below the true market value to help consumers deal with lower purchasing power. Last week, gold also saw a rise of Rs5,500 per tola.
Karachi Sarafa Association’s Gold Rates
The Karachi Sarafa Association shared that 24-karat gold is now Rs210,562 per 10 grams, a rise of Rs1,371. The price of 22-karat gold also increased, now at Rs193,016 per 10 grams. This affects both gold buyers and investors who rely on gold as a safe investment option. For daily updates, see Daily Gold Update.
Increase in Silver Prices
Silver prices in Pakistan also rose this week. The rate for 24-karat silver is now Rs2,730 per tola, up by Rs80. For 10 grams, silver now costs Rs2,340.53, an increase of Rs68.59. Rising prices in both gold and silver show that many people are choosing these precious metals as safe assets in uncertain times.
Global Market Effects on Local Gold Prices
Globally, the spot gold price has gone up by 1.2%, now around $2,387.58 per ounce. This global increase influences the price of gold in Pakistan since local markets often follow international trends.
U.S. Consumer Price Index (CPI) and Its Impact
The U.S. Consumer Price Index (CPI) for April 2024 showed inflation at 3.4%, slightly down from 3.5% the month before. This is the first time in six months inflation has been lower than expected. This decrease affects global markets, influencing gold prices in Pakistan as well.
Conclusion
The rise in gold and silver prices highlights their role as stable assets for Pakistani consumers. To stay updated, follow Daily Gold Signal, a top source for current gold and silver prices.
