Domestic gold edges up, 24-karat standing at Rs233,600 per tola

News Image

MG News | May 18, 2023 at 05:48 PM GMT+05:00

May 18, 2023 (MLN): Domestic bullion inched up on Thursday, with 24-karat gold reaching Rs233,600 per tola, rising by Rs500.

According to the Karachi Sarafa Association, the price of 10-gram 24-karat gold reached Rs200,274, up by Rs428.

While 10-gram 22-karat gold stood at Rs183,585 per tola.

Meanwhile, the price of silver continued to decline in the domestic market, with 24-karat silver falling by another Rs50, to close at Rs2,900 per tola, and 10-gram 24-karat silver lost Rs42.86 per tola to close at Rs2,486.28 per tola.

Notably, domestic silver’s continued decline can be attributed to the international spot silver prices, which are down 1.83% this week on top of the previous week’s significant fall of 6.55%.

On the other hand, international spot gold continued the downward journey and is currently trading at $1974.16, down by -0.36% on the day.

Moreover, the U.S. dollar index (DXY) has also continued its climb, currently 0.42% higher on the day, this makes dollar-denominated gold expensive for investors holding other currencies.

Notably, DXY is up 1.59% this month, this surge is mainly attributable to the debt-ceiling debacle.

Democrats and Republicans are inching closer to reaching an agreement on raising the $31.4 trillion borrowing limit. But the threat of a potentially catastrophic U.S. debt default lingers.

Similarly, international spot silver also went down in line with the gold’s trend, by 0.89% and is currently trading at $23.52.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 171,725.29
261.56M
2.31%
3881.05
ALLSHR 103,214.49
498.64M
2.00%
2024.02
KSE30 51,517.14
135.33M
2.40%
1209.13
KMI30 246,565.71
111.44M
2.29%
5524.54
KMIALLSHR 67,042.77
274.55M
1.94%
1273.86
BKTi 47,299.71
43.26M
3.04%
1394.54
OGTi 36,341.37
10.64M
2.20%
783.44
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 77,255.00 77,935.00
76,105.00
1480.00
1.95%
BRENT CRUDE 96.30 100.73
95.95
-7.24
-6.99%
RICHARDS BAY COAL MONTHLY 110.00 0.00
0.00
-8.75
-7.37%
ROTTERDAM COAL MONTHLY 113.00 0.00
0.00
0.30
0.27%
USD RBD PALM OLEIN 1,157.50 1,157.50
1,157.50
0.00
0.00%
CRUDE OIL - WTI 90.30 93.90
89.41
-6.30
-6.52%
SUGAR #11 WORLD 14.68 14.91
14.59
-0.22
-1.48%

Chart of the Day


Latest News
May 25, 2026 at 06:03 PM GMT+05:00

UAE, UN deepen ties on energy, water agenda


May 25, 2026 at 05:13 PM GMT+05:00

Pakistan pushes export drive in China


May 25, 2026 at 04:25 PM GMT+05:00

PKR maintains upward momentum vs USD


May 25, 2026 at 04:18 PM GMT+05:00

FPRM acquires 60% stake in AML/CFT Screening Solution



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg