Gold remains stable in Pakistan despite global volatility

By MG News | August 06, 2024 at 03:31 PM GMT+05:00

0:00

August 06, 2024 (MLN): Gold remained stable in Pakistan despite a bout of volatility globally on Monday amid fears of a slowing US economy.

The Karachi Sarafa Association reported 24-karat gold at Rs256,000 per tola, down just Rs500.

Globally, Spot gold plunged as much as 3.2% in the previous session, the biggest intraday drop since early June, before paring losses to close 1.2% lower on the day.

It traded in a range of over $90 amid a global rout on Monday amid fears of a deeper US economic slowdown.

The VIX index which measures market volatility jumped as much as 180% to 65.7, the highest since 2020 covid crash.

Similarly, spot silver slipped 4.6% internationally yesterday. That would have translated into a loss of about Rs130 per tola.

However, the Sarafa Association reported 24-karat silver as being sold at Rs2,850 per tola, down just Rs50.

PKR (24-karat per tola)	Aug 06, 2024	Aug 05, 2024	DoD	1 Month	FYTD	CYTD
Gold	256,000	256,500	-500	9,600	14,300	36,000
Silver	2,850	2,900	-50	-50	0	170

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	133,403.19 324.46M	0.02% 33.04
ALLSHR	83,188.05 1,204.34M	0.13% 106.90
KSE30	40,651.46 104.88M	-0.13% -53.85
KMI30	192,083.92 123.92M	-0.26% -496.76
KMIALLSHR	55,847.70 679.22M	0.02% 11.98
BKTi	36,422.88 17.65M	0.29% 105.71
OGTi	28,437.61 10.77M	-0.37% -105.35

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,400.00	109,685.00 107,680.00	945.00 0.87%
BRENT CRUDE	70.25	70.68 69.03	0.67 0.96%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.05 2.15%
ROTTERDAM COAL MONTHLY	106.65	106.65 106.25	0.50 0.47%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.44	68.91 67.33	0.51 0.75%
SUGAR #11 WORLD	16.15	16.37 16.10	-0.13 -0.80%