Gold prices bounced back on Wednesday after hitting an 8-week low. The price of 24-karat gold rose by Rs1,400, reaching Rs271,900 per tola.
Globally, gold also saw a small rise, with the price of spot gold at $2,610 per ounce, up by $11.1 or 0.43%. This increase has brought optimism to the market, as gold remains a valuable asset for many investors.
Latest Prices for Gold and Silver
In Pakistan, the Karachi Sarafa Association reported that 24-karat gold is now priced at Rs233,111 per 10 grams, up by Rs1,200. The price of 22-karat gold also rose to Rs213,685 per 10 grams.
On the other hand, silver prices stayed the same. The price of 24-karat silver remains at Rs3,250 per tola, or Rs2,786 per 10 grams.
Gold and Silver Price Trends
Here’s a quick look at the current price changes for gold and silver:
| Metal | Price (Nov 13, 2024) | Price (Nov 12, 2024) | Change | 1 Month Change | Year-to-Date Change |
|---|---|---|---|---|---|
| Gold | Rs271,900 per tola | Rs270,500 per tola | +Rs1,400 | -Rs3,800 | +Rs51,900 |
| Silver | Rs3,250 per tola | Rs3,250 per tola | 0 | +Rs200 | +Rs570 |
As shown above, the price of gold has risen by Rs1,400 per tola, while silver prices have stayed steady.
Why Are Gold Prices Rising?
Several factors contribute to the rise in gold prices. Globally, investors see gold as a safe investment, especially when there are concerns about inflation and economic stability. Locally, the value of the Pakistani Rupee also affects gold prices.
In Pakistan, more people are buying gold as an investment, which is driving up the price. With the rise in gold’s value globally, it’s expected that the local market will continue to follow these trends.
Conclusion: Stay Updated on Gold and Silver Prices
To keep track of gold and silver prices, visit Daily Gold Signal for the latest news and updates. You can also check out the Daily Gold Update for daily insights into the precious metals market..
