Gold prices rise to Rs223,000 per tola, up by Rs800

News Image

MG News | August 02, 2023 at 05:35 PM GMT+05:00

August 02, 2023 (MLN): Domestic bullion rose on Wednesday, with 24-karat gold reaching Rs223,000 per tola, rising by Rs800.

According to the Karachi Sarafa Association, the price of 10-gram 24-karat gold reached Rs191,187 per tola, inflating by Rs686.

While 10-gram 22-karat gold stood at Rs175,254 per tola, increasing by Rs628.

In contrast, the price of silver remained unchanged in the domestic market, with 24-karat silver to close at Rs2,800 per tola and the price of 10-gram 24-karat silver reaching Rs2,401 per tola.

On the other hand, international spot gold is currently trading at $1,949.87 rising by 0.15% on the day.

To note, Fitch Ratings has downgraded the United States of America's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA+' from 'AAA'.

Consequently, the demand for the heaven assets witnessed upward momentum, however, the gains were capped amid stronger dollar.

The U.S. dollar index (DXY) is currently 0.37% higher on the day, this makes dollar-denominated gold expensive for investors holding other currencies.

Gold dropped 1% and hit a three-week low on Tuesday as the dollar firmed after relatively solid data on U.S. manufacturing and construction offset a decline in job openings to the lowest level in more than two years in June, as Reuters reported.

The focus remains on Friday’s non-farm payrolls report for July, a key barometer of the health of the U.S. economy.

Meanwhile, international spot silver is currently trading at $24.38, up by 0.15% on the day.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 162,896.68
169.98M
0.67%
1091.66
ALLSHR 98,449.69
389.81M
0.63%
617.70
KSE30 48,687.46
89.94M
0.72%
346.80
KMI30 233,849.31
94.62M
0.50%
1168.71
KMIALLSHR 64,048.09
199.49M
0.59%
373.04
BKTi 44,347.06
28.49M
1.07%
471.40
OGTi 34,422.95
8.77M
1.31%
443.56
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 76,875.00 77,425.00
76,120.00
-20.00
-0.03%
BRENT CRUDE 111.44 111.79
109.01
-0.66
-0.59%
RICHARDS BAY COAL MONTHLY 110.00 0.00
0.00
-7.75
-6.58%
ROTTERDAM COAL MONTHLY 111.50 111.50
111.50
0.90
0.81%
USD RBD PALM OLEIN 1,191.50 1,191.50
1,191.50
0.00
0.00%
CRUDE OIL - WTI 104.44 104.86
102.12
0.06
0.06%
SUGAR #11 WORLD 15.04 15.13
14.69
0.31
2.10%

Chart of the Day


Latest News
May 19, 2026 at 05:30 PM GMT+05:00

Pakistan, Japan eye next chapter in minerals science


May 19, 2026 at 05:20 PM GMT+05:00

ECC approves National Gemstone Policy 2026–2030


May 19, 2026 at 04:50 PM GMT+05:00

Gold price in Pakistan remain unchanged



Top 5 things to watch in this week

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