Gold falls slightly in Pakistan

MG News | September 27, 2024 at 03:33 PM GMT+05:00

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September 27, 2024 (MLN): Gold price in Pakistan fell slightly on Friday after hitting a fresh record in the last session, with 24-karat gold being sold at Rs276,700 per tola, down Rs300.

The yellow metal is up Rs56,700 per tola so far this year as expectations for additional Federal Reserve interest-rate cuts boost appeal for the precious metal.

Globally, spot gold traded near $2,664 an ounce.

The Karachi Sarafa Association reported the price of 24-karat gold at Rs237,226 per 10-gram, down Rs256.

Similarly, the price of 22-karat gold was quoted lower at Rs217,456 per 10-gram.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs3,050 per tola and Rs2,615 per 10-gram.

Globally, silver hit the highest level since 2012. The white metal climbed as much as 2.8% to $32.71 an ounce on Thursday, extending this year’s rally to 37%. However, prices still remain well below their all-time high of almost $50, set in 2011.

PKR (24-karat per tola)	Sep 27, 2024	Sep 26, 2024	DoD	1 Month	FYTD	CYTD
Gold	276,700	277,000	-300	13,000	35,000	56,700
Silver	3,050	3,050	0	100	200	370

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