Gold surges to new record in Pakistan
MG News | October 18, 2024 at 03:26 PM GMT+05:00
October 18, 2024 (MLN): Gold surged to a fresh record in Pakistan, with 24-karat gold being sold at Rs280,900 per tola after a jump of Rs3,000.
The yellow metal is up Rs60,900 or 27.7% so far this year.
Globally, spot gold topped $2,700 an ounce for the first time, as concerns over escalating conflicts in the Middle East and a tight US election race prompt investors to flock to safety.
The Karachi Sarafa Association reported the price of 24-karat gold at Rs240,826 per 10-gram, up Rs2,572.
Similarly, the price of 22-karat gold was quoted higher at Rs220,758 per 10-gram.
Similarly, silver prices rose in the domestic market, with 24-karat silver being sold at Rs3,100 per tola (+Rs50) and Rs2,658 per 10-gram (+Rs43).
| PKR (24-karat per tola) | Oct 18, 2024 | Oct 17, 2024 | DoD | 1 Month | FYTD | CYTD |
|---|---|---|---|---|---|---|
| Gold | 280,900 | 277,900 | 3,000 | 12,400 | 39,200 | 60,900 |
| Silver | 3,100 | 3,050 | 50 | 150 | 250 | 420 |
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