Gold rises further in Pakistan

MG News | October 21, 2024 at 12:45 PM GMT+05:00
October 21, 2024 (MLN): Gold price in Pakistan rose to another record on Monday, with 24-karat gold being sold at Rs282,300 per tola, up Rs500.
Globally, spot gold surged to a fresh record near $2,728 an ounce as safe haven demand continue to support prices amid concerns over escalating conflicts in the Middle East and a tight US election race.
The yellow metal is up more than 32% so far this year, beating 2007’s 31% rise in prices, and the largest gain since 1979 when it rose 127%.
Locally, it is up Rs62,300 per tola or 28%.
The Karachi Sarafa Association reported the price of 24-karat gold at Rs242,027 per 10-gram, up Rs429.
Similarly, the price of 22-karat gold was quoted higher at Rs221,858 per 10-gram.
The bullish sentiment has also spilled over to silver, which has surged to the highest level since 2012 in the international market.
Locally, 24-karat silver is being sold at Rs3,150 per tola and Rs2,701 per 10-gram. The metal is up Rs470 per tola or 17.5% so far this year.
PKR (24-karat per tola) | Oct 21, 2024 | Oct 19, 2024 | DoD | 1 Month | FYTD | CYTD |
---|---|---|---|---|---|---|
Gold | 282,300 | 281,800 | 500 | 9,800 | 40,600 | 62,300 |
Silver | 3,150 | 3,150 | 0 | 200 | 300 | 470 |
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