Gold edges lower by Rs200 per tola

August 19, 2024 (MLN): Gold price in Pakistan edged lower on Monday after hitting a record in the previous session, with 24-karat gold being sold at Rs260,000 per tola, down Rs200.

It is worth noting that the price has been kept a significant Rs4,000 below its actual cost today

The yellow metal is up 18% or Rs40,000 per tola this year amid growing expectations of monetary easing, coupled with large purchases by central banks.

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The Karachi Sarafa Association further reported the price of 24-karat gold at Rs222,908 per 10-gram, down Rs172.

Similarly, the price of 22-karat gold was quoted lower at Rs204,332 per 10-gram.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs2,950 per tola and Rs2,529 per 10-gram.

On the global front, spot gold traded near $2,504 an ounce, down $2.3 or 0.09% from the previous session.

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