Gold surges in Pakistan as Goldman reiterates $3,000 target for 2025
MG News | November 19, 2024 at 12:17 PM GMT+05:00
November 19, 2024 (MLN): Gold rebounded in Pakistan on Tuesday as Goldman Sachs Group Inc. reiterated a forecast for international prices to reach $3,000 an ounce next year.
24-karat gold was sold at Rs273,500 per tola after a gain of Rs3,600.
Globally, spot gold surged by the most since August after Goldman Sachs analysts advised investors to “go for gold.” The precious metal extended gains to $2,618 an ounce after jumping almost 2% yesterday.
Similarly, 24-karat gold per 10-gram was sold at Rs234,482 after an increase of Rs3,086, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
The price of 22-karat gold was also quoted higher at Rs214,942 per 10-gram.
On the other hand, silver prices remained unchanged in the domestic market, with 24-karat silver being sold at Rs3,250 per tola (-Rs0) and Rs2,786 per 10-gram (-Rs0).
| PKR (24-karat per tola) | Nov 19, 2024 | Nov 18, 2024 | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 273,500 | 269,900 | 3,600 | -8,300 | 31,800 | 53,500 |
| Silver | 3,250 | 3,250 | 0 | 100 | 400 | 570 |
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