Gold price in Pakistan inches closer to all-time high

April 01, 2024 (MLN): The domestic bullion continued its upward trend on Monday, with 24-karat gold gaining Rs2,800 to Rs237,600 per tola.

The yellow metal gained a substantial Rs19,100 in March in line with the surge in international gold prices.

The Karachi Sarafa Association reported that the price of 24-karat gold reached Rs203,704 per 10-gram, up Rs2,401 compared to previous session.

Similarly, the price of 22-karat gold was quoted at Rs186,728 per 10-gram.

On the other hand, silver prices remained unchanged, with 24-karat silver being sold at Rs2,600 per tola and Rs2,211.93 per 10-gram.

Globally, spot gold rose to a record amid cooled US inflation data.

Bullion jumped to $2,258.77 an ounce on Monday, up 1.3% from Thursday’s close. It is up 9.42% this year.

The US core personal consumption expenditures (PCE) index cooled in February, recording an increase of 0.3% MoM and 2.8% YoY.

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