The gold price in Pakistan increased on Wednesday, with the cost of 24-karat gold climbing to Rs277,000 per tola. This marked a gain of Rs1,000 compared to the previous day. The gold market continues to show fluctuations influenced by both domestic and global factors.
Overview of Gold Prices in Pakistan
The price of 24-karat gold per 10 grams climbed to Rs237,483, showing an increase of Rs858, as reported by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). For 22-karat gold, the rate was recorded at Rs217,693 per 10 grams, maintaining its position as a preferred choice for many buyers.
In contrast, silver prices stayed stable in the local market.
The rate of 24-karat silver held steady at Rs3,350 per tola and Rs2,872 per 10 grams.
Domestic Market Performance
Here’s a summary of the latest prices:
| Category | January 8, 2025 | January 7, 2025 | Change (DoD) | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold (24-karat per tola) | Rs277,000 | Rs276,000 | +Rs1,000 | Rs600 | Rs35,300 | Rs4,400 |
| Silver (24-karat per tola) | Rs3,350 | Rs3,350 | Rs0 | -Rs50 | Rs500 | Rs0 |
Global Gold Trends
Globally, spot gold traded around $2,653 an ounce, reflecting a rise of $4.1 or 0.16% from the previous session. The modest increase in international prices came as investors focused on an upcoming U.S. jobs report. This report is expected to influence the Federal Reserve’s monetary policy, particularly regarding future interest rate decisions.
Factors Influencing Gold Prices
The gold market is affected by several factors:
- Exchange Rate Movements: Fluctuations in the Pakistani rupee directly impact local gold prices.
- Global Market Trends: Changes in international gold rates heavily influence domestic markets.
- Economic Conditions: Key economic data such as the U.S. jobs report can shift investor sentiment globally.
Investors and buyers in Pakistan continue to monitor both domestic and international factors that affect gold prices. For more detailed updates on gold rates, you can visit Daily Gold Signal. Additionally, for comprehensive global gold trends, check out their Daily Gold Update.
Key Insights for Investors
- Gold continues to be a reliable safeguard against inflation and currency depreciation.
- Current trends indicate modest gains in the gold market.
- Silver prices are stable, offering an alternative investment option.
Conclusion
The gold price in Pakistan reflects both global trends and local market dynamics. As prices rise, keeping track of reliable updates and reports becomes crucial for investors and buyers. Internal and external resources, such as Daily Gold Signal, offer valuable insights to help you stay informed.
