Gold plunges Rs7,000 per tola

MG News | November 12, 2024 at 03:13 PM GMT+05:00

0:00

November 12, 2024 (MLN): Gold extended its downward slide on Tuesday, with 24-karat gold slumping Rs7,000 to Rs270,500 per tola.

Last week, the yellow metal slumped Rs4,200 per tola amid a strengthened US dollar after Donald Trump won the US presidential election.

A strong US Dollar makes the safe haven asset relatively expensive for holders of other currencies.

Bullion was widely expected to rally after a Trump victory, but that appears to have been offset by a rising dollar, which makes the precious metal more expensive for many buyers.

On the global front, spot gold traded near $2,596 an ounce, down $28 or 1.07% from the previous session.

The Karachi Sarafa Association reported the price of 24-karat gold at Rs231,911 per 10-gram, down Rs6,000.

Similarly, the price of 22-karat gold was quoted lower at Rs212,584 per 10-gram.

Silver prices also fell in the domestic market, with 24-karat silver being sold at Rs3,250 per tola (-Rs50) and Rs2,786 per 10-gram (-Rs43).

PKR (24-karat per tola)	Nov 12, 2024	Nov 11, 2024	DoD	1 Month	FYTD	CYTD
Gold	270,500	277,500	-7,000	-5,000	28,800	50,500
Silver	3,250	3,300	-50	200	400	570

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	164,444.72 1,390.47M	-0.75% -1241.66
ALLSHR	100,263.22 3,076.68M	-0.52% -522.58
KSE30	50,467.16 136.66M	-0.90% -456.01
KMI30	239,381.13 102.98M	-0.94% -2269.59
KMIALLSHR	66,143.45 1,531.56M	-0.67% -449.11
BKTi	46,609.98 59.41M	-0.86% -404.53
OGTi	32,245.33 12.94M	-0.42% -134.82

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,350.00	112,280.00 109,850.00	-1200.00 -1.08%
BRENT CRUDE	61.97	62.75 61.86	0.06 0.10%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	0.00 0.00%
ROTTERDAM COAL MONTHLY	93.00	93.00 92.50	1.95 2.14%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	58.34	59.11 58.24	0.07 0.12%
SUGAR #11 WORLD	15.62	15.87 15.62	-0.07 -0.45%