Downward trend continues: 24-karat gold prices fall by Rs1,000 per tola

News Image

MG News | May 19, 2023 at 07:39 PM GMT+05:00

May 19, 2023 (MLN): Domestic bullion fell on Friday, with 24-karat gold reaching Rs232,600 per tola, decreasing by Rs1,000.

According to the Karachi Sarafa Association, the price of 10-gram 24-karat gold reached Rs199,417 tola, shedding Rs857.

While 10-gram 22-karat gold stood at Rs182,800, which decreased by Rs785.

Similarly, the price of silver continued the downward journey in the domestic market, with 24-karat silver falling by Rs50, to close at Rs2,850 per tola, and 10-gram 24-karat silver losing Rs42.97 to close at Rs2,443.41 per tola.

On the other hand, international spot gold fell sharply in yesterday’s trading session by 1.19% and is down 2.45% in this week, currently trading at $1,961.66.

This decline is attributed to markets showing more optimism for a U.S. debt ceiling deal that could prevent a potentially disastrous default.

Which also led the U.S. dollar index (DXY) to finally cool down after almost a 2% gain from the lows in a few days, currently trading 0.18% lower on the day.

However, if we look at gold from a purely technical perspective, this decline can be seen as a correction before the price discovery above the all-time highs that were broken after 2 years.

Meanwhile, international spot silver is currently trading at $23.65, down by 1.34% in this week on top of last week’s 6.55% decline.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 171,021.20
228.53M
-0.42%
-718.25
ALLSHR 103,836.39
572.65M
-0.41%
-422.85
KSE30 50,951.99
89.47M
-0.52%
-264.77
KMI30 240,633.87
93.99M
-0.31%
-756.80
KMIALLSHR 66,572.75
300.61M
-0.28%
-185.59
BKTi 48,673.23
31.18M
-0.70%
-343.86
OGTi 33,702.25
6.35M
-0.61%
-205.57
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 64,355.00 64,470.00
63,875.00
140.00
0.22%
BRENT CRUDE 98.70 101.19
95.13
-1.99
-1.98%
RICHARDS BAY COAL MONTHLY 105.75 0.00
0.00
-1.55
-1.44%
ROTTERDAM COAL MONTHLY 121.10 121.10
121.10
0.70
0.58%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00
0.00
0.00%
CRUDE OIL - WTI 90.47 92.83
87.68
-1.72
-1.87%
SUGAR #11 WORLD 14.76 14.79
14.54
0.07
0.48%

Chart of the Day


Latest News
July 25, 2026 at 05:09 PM GMT+05:00

Weekly Market Roundup


July 25, 2026 at 01:40 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators



Top 5 things to watch in this week

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