Gold price in Pakistan extend gains to hit Rs247,600

News Image

By MG News | April 09, 2024 at 01:11 PM GMT+05:00

0:00

April 09, 2024 (MLN): The domestic bullion market continued its upward journey on Tuesday, with the price of 24-karat gold surging to a new record high of Rs247,600 per tola, a rise of Rs1,900 from yesterday.

Last week, the yellow metal had gained a significant Rs10,300 per tola.

The association further reported that the price of 24-karat gold reached Rs212,277 per 10-gram, up Rs1,629 compared to the last session.

Similarly, the price of 22-karat gold was quoted higher at Rs194,587 per 10-gram.

On the other hand, silver prices remained unchanged, with 24-karat silver being sold at Rs2,650 per tola and Rs2,271.94 per 10-gram.

On the global front, international spot gold traded near $2,352.37 an ounce, up 0.57% on the day.

The yellow metal is up more than 17% since mid-February, a move that has left some onlookers puzzled because of the lack of any obvious trigger, according to Bloomberg.

The sharp rally comes as a surprise especially given traders’ conviction on three quarter-point rate cuts is fast fading, with markets now favoring just two reductions

Still, heightened geopolitical risks in the Middle East and Ukraine, plus buying by central banks, led by China, have added some bullish momentum for gold.

Investors are closely monitoring the US inflation reading due later this week.

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 109,270.00 110,105.00
109,205.00
-1015.00
-0.92%
BRENT CRUDE 68.45 69.00
68.41
-0.66
-0.96%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.80 67.50
66.78
-0.65
-0.96%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 02, 2025 at 11:05 PM GMT+05:00

Cement sales flat in FY25


July 02, 2025 at 10:50 PM GMT+05:00

SBP reserves cross $14bn mark in FY25


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

CDNS revises profit rates on savings schemes



Top 5 things to watch in this week

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