Tag: 22-karat gold

  • Gold price drops by Rs600 to Rs215,700 per tola in Pakistan

    Gold price drops by Rs600 to Rs215,700 per tola in Pakistan

    In Monday’s trading, the per-tola price of 24 karat gold in Pakistan witnessed a decrease, dropping by Rs600 to Rs215,700, as reported by the All Sindh Sarafa Jewellers Association. 

    This marks a slight dip compared to its previous sale at Rs215,300.

    Similarly, the cost of 10 grammes of 24 karat gold experienced a decline of Rs514, settling at Rs184,071, down from Rs184,585. The price of 10 grammes of 22 karat gold also saw a reduction to Rs168,731 from Rs169,203.

    Meanwhile, the silver market remained stable, with the per tola and ten-gramme prices maintaining their positions at Rs2,600 and Rs22,229.08, respectively.

    On the international front, the price of gold took a downward turn, decreasing by $8 to $2,042 from $2,050, according to the association’s report.

  • Gold price drops by Rs2,000 per tola to Rs215,300

    Gold price drops by Rs2,000 per tola to Rs215,300

    On Wednesday, the domestic bullion market experienced a notable decline, influenced by a drop in international prices. 

    In Pakistan, the price of 24-karat gold plunged by Rs2,000 per tola, reaching Rs215,300.

    The Karachi Sarafa Association reported a decrease of Rs1,715 in the price of 10-gramme 24-karat gold, standing at  Rs184,585. 

    Additionally, the price of 10-gramme 22-karat gold dipped to Rs169,203 compared to Rs170,775 on Tuesday.

    Silver prices also witnessed a downturn in the domestic market, with 24-karat silver selling at Rs2,600 per tola and Rs2,229.08 per 10-gramme, reflecting declines of Rs50 per tola and Rs 42.86 per 10-gramme, respectively.

    On the global stage, international spot gold experienced a $6, or 0.31 per cent, decrease, currently trading at $2,021.77 [02:46 pm PST]. 

    This follows a $26 or 1.27 per cent decline yesterday, contributing to the overall impact on the domestic bullion market.

  • Gold price hits Rs219,800 per tola after an increase of Rs1,800

    Gold price hits Rs219,800 per tola after an increase of Rs1,800

    In a notable uptrend, domestic gold prices in Pakistan experienced significant gains on Friday, with the price of 24-karat gold rising by Rs1,800 per tola and concluding the session at Rs219,800.

    According to the Karachi Sarafa Association, the closing price for 10 grammes of 24-karat gold in today’s session was Rs188,443, marking an increase of Rs1,543.

    Similarly, the price for 10 grammes of 22-karat gold reached Rs172,740, showing a gain of Rs1,415.

    Contrastingly, the price of silver remained steady in the local market, with 24-karat silver and 10-gramme 24-karat silver settling at Rs2,650 and Rs2,271.94, respectively.

    The continuous surge in international gold prices is a driving force behind the upward trajectory of gold prices in the domestic market.

    Currently, international spot gold is trading at $2,055.91, indicating a 0.48 per cent increase compared to the previous session’s closing.

    Furthermore, international gold is set for its second consecutive weekly gain, influenced by the weakening dollar and US Treasury yields.

    The recent statement from the US Federal Reserve, outlining a cumulative rate cut of 75 basis points in 2024, is putting sustained pressure on the dollar and Treasury yields, contributing to further gains for the precious metal.

    In addition to the impact of international price fluctuations, the domestic gold market is also susceptible to changes in the interbank exchange rate of the local currency.

    The intricate interplay between global and domestic factors continues to shape the dynamics of the gold market in Pakistan.

  • Gold price in Pakistan increases to Rs218,600 per tola

    Gold price in Pakistan increases to Rs218,600 per tola

    Gold prices in Pakistan experienced a marginal uptick on Friday, with the value of 24-karat gold climbing by Rs300 per tola, concluding the session at Rs218,600.

    According to the Karachi Sarafa Association, the closing rate for 10-gramme 24-karat gold in today’s session reached Rs187,414, marking an increase of Rs257.

    Simultaneously, the price of 10-gramme 22-karat gold reached Rs171,796, reflecting a rise of Rs235.

    In the domestic market, silver prices also saw an upward trend, with 24-karat silver and 10-gramme 24-karat silver settling at Rs2,670 and Rs2,289.09, respectively.

    It is noteworthy that the domestic bullion market displayed a robust recovery in the previous session after enduring five consecutive losses, resulting in a cumulative loss of Rs6,300 for 24-karat gold.

    This surge was attributed to a rally in international markets, which persisted today, contributing to gains in the domestic market.

    As of the latest update, international spot gold is trading at $2,041.17, reflecting a 0.26 per cent increase for the day.

    The ongoing upward trajectory in international gold prices is influenced by the recent statement from the US Federal Reserve, which indicates a cumulative rate cut of 75 basis points in 2024.