Gold gains Rs900 per tola in Pakistan ahead of US inflation report

News Image

By MG News | February 29, 2024 at 01:28 PM GMT+05:00

0:00

February 29, 2024 (MLN): Domestic bullion resumed its upward trend on Thursday, with 24-karat gold reaching Rs215,700 per tola, increasing by Rs900.

The Karachi Sarafa Association, a reputable jeweler in the precious metals market, reported that the price of 10-gram 24-karat gold reached Rs184,928 per tola, reflecting a rise of Rs772.

Similarly, the price of 10-gram 22-karat gold was noted at Rs169,517 per tola, a gain of Rs707.

Conversely, silver prices remained unchanged today, with 24-karat silver being sold at Rs2,570 per tola and Rs2,203.36 per 10-gram.

Globally, international spot gold is currently trading at $2,037.01 increasing by 0.12% on the day.

Meanwhile, international spot silver is currently trading at $22.51, up by 0.27% on the day.

Investors are awaiting the release of the US Personal Consumption Expenditures (PCE) price index, the Federal Reserve's most-watched inflation indicator, which is expected to influence the central bank's upcoming policy decisions.

Expectations for cuts to US interest rates have shifted to later this year, as recent inflation data has come in hot and Fed policymakers have taken a wait-and-see attitude, calling for more time and data showing that inflation is moving towards their two percent goal.

Analysts say the PCE figures, and other US economic indicators coming Thursday, will likely influence market sentiment.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,160.00 108,430.00
105,440.00
2410.00
2.28%
BRENT CRUDE 67.67 68.10
66.94
0.56
0.83%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.15 110.00
108.25
1.65
1.53%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.00 66.43
65.23
0.55
0.84%
SUGAR #11 WORLD 15.67 15.97
15.58
-0.03
-0.19%

Chart of the Day


Latest News
July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes


July 02, 2025 at 05:05 PM GMT+05:00

PSX in FY25: From Oof to Boom


July 02, 2025 at 05:01 PM GMT+05:00

Gold price in Pakistan falls Rs600 per tola


July 02, 2025 at 04:35 PM GMT+05:00

Oil gains slightly as market eyes Iran, OPEC+ moves


July 02, 2025 at 04:02 PM GMT+05:00

PSX Closing Bell: Record Breaker



Top 5 things to watch in this week

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