Gold remains stable in Pakistan despite global volatility

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	157,367.38 360.55M	0.76% 1189.56
ALLSHR	96,428.07 1,336.90M	0.83% 797.68
KSE30	47,997.04 161.66M	0.67% 318.57
KMI30	231,690.34 210.38M	0.87% 2008.12
KMIALLSHR	64,835.93 673.83M	0.73% 469.16
BKTi	42,312.66 71.06M	0.93% 389.86
OGTi	31,640.85 11.49M	-0.30% -94.94

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,605.00	118,295.00 116,115.00	1780.00 1.54%
BRENT CRUDE	67.97	68.01 67.50	0.02 0.03%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	94.50	94.50 94.50	0.95 1.02%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.74	63.82 63.24	-0.31 -0.48%
SUGAR #11 WORLD	16.18	16.27 16.18	-0.09 -0.55%