Gold edges lower by Rs200 per tola
MG News | August 19, 2024 at 01:41 PM GMT+05:00
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.
| PKR (24-karat per tola) | Aug 19, 2024 | Aug 17, 2024 | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 260,000 | 260,200 | -200 | 10,000 | 18,300 | 40,000 |
| Silver | 2,950 | 2,950 | 0 | 30 | 100 | 270 |
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