Gold prices in Pakistan hit record high of Rs254,000

MG News | July 18, 2024 at 01:40 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

July 18, 2024 (MLN): Gold price in Pakistan surged to an all-time on Thursday, with 24-karat gold jumping Rs4,600 per tola to Rs254,000.

The rally comes as signs of slowing inflation in the US fuel speculation the central bank will soon start lowering interest rates. High rates tend to be negative for gold, which bears no interest.

It is worth noting that the price has been kept a significant Rs4,000 below its actual cost today due to a reduction in purchasing power.

The Karachi Sarafa Association reported the price of 24-karat gold at Rs217,764 per 10-gram, up Rs3,944 per tola.

Similarly, the price of 22-karat gold was quoted higher at Rs199,617 per 10-gram.

On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs2,900 per tola and Rs2,486 per 10-gram.

On the global front, spot gold hovered near $2,468 an ounce after surging past the previous all-time peak set in May.

PKR (24-karat per tola)	Jul 18, 2024	Jul 13, 2024	DoD	1 Month	FYTD	CYTD
Gold	254,000	249,400	4,600	12,700	12,300	34,000
Silver	2,900	2,900	0	150	50	220

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	169,392.33 140.87M	0.85% 1421.67
ALLSHR	102,246.77 370.03M	0.62% 626.89
KSE30	50,468.10 50.48M	0.76% 379.72
KMI30	241,108.75 61.37M	0.48% 1151.64
KMIALLSHR	66,245.50 219.95M	0.50% 327.36
BKTi	46,992.31 14.07M	0.64% 300.00
OGTi	34,488.93 4.55M	0.11% 37.74

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,220.00	79,110.00 74,925.00	-2930.00 -3.70%
BRENT CRUDE	108.63	109.45 105.10	2.95 2.79%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	2.75 2.16%
ROTTERDAM COAL MONTHLY	138.50	138.50 138.50	-0.80 -0.57%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	105.82	106.75 101.21	4.43 4.37%
SUGAR #11 WORLD	17.98	18.30 17.88	-0.18 -0.99%