The price of gold in Pakistan saw a rise on Monday, with 24-karat gold now selling at Rs275,700 per tola, reflecting an increase of Rs200. This latest price hike has drawn attention due to its impact on the local market.
Global Gold Prices Climb
Globally, spot gold prices witnessed a rise, with gold trading at $2,654 per ounce. This represents a gain of $6.1, or 0.23%, compared to the previous trading session. The consistent upward trend in international gold prices directly influences Pakistan’s domestic market.
Local Gold Market Update
The Karachi Sarafa Association confirmed that the price of 24-karat gold has risen to Rs236,368 per 10 grams, showing a growth of Rs171. Additionally, the price of 22-karat gold also increased, now being sold at Rs216,671 per 10 grams. These changes are in line with the broader trends in the global gold market.
Silver Prices Remain Stable
Unlike gold, silver prices in Pakistan remained unchanged in the domestic market. The price of 24-karat silver was stable at Rs3,050 per tola and Rs2,615 per 10 grams. This stability in silver prices contrasts with the fluctuations seen in gold rates.
Gold Price Trends in Pakistan
Here’s a brief comparison of the gold and silver prices from recent days:
| Metal | Oct 14, 2024 | Oct 12, 2024 | Day-on-Day (DoD) Change | 1-Month Change | FYTD Change | CYTD Change |
|---|---|---|---|---|---|---|
| Gold (24k/tola) | Rs275,700 | Rs275,500 | +Rs200 | +Rs9,400 | +Rs34,000 | +Rs55,700 |
| Silver (24k/tola) | Rs3,050 | Rs3,050 | Rs0 | +Rs100 | +Rs200 | +Rs370 |
As the table shows, the gold price has steadily increased, showing a one-month gain of Rs9,400 and a fiscal year-to-date rise of Rs34,000. In contrast, silver prices have remained relatively stable over recent months.
Conclusion
The rise in gold prices reflects both global trends and local market dynamics. While gold saw an upward surge, silver prices remained unaffected. This steady growth in gold prices could influence investment decisions in the near future.
For daily updates on gold prices, visit Daily Gold Signal for more insights. You can also stay informed on the latest developments by checking out the Daily Gold Update section.
