Tag: 24-karat gold

  • Gold price in Pakistan increases by Rs400, reaching Rs214,200 per tola

    Gold price in Pakistan increases by Rs400, reaching Rs214,200 per tola

    In a noteworthy market development, gold prices in Pakistan witnessed a modest recovery this Friday.

    The per-tola price of 24-karat gold surged by Rs400, reaching Rs214,200, according to the latest data from the Karachi Sarafa Association.

    The 10-gramme 24-karat gold also reflected this upward trend, standing at Rs183,642, indicating an increase of Rs342 compared to the previous day. Additionally, the 10-gramme 22-karat gold was reported at Rs168,338.

    Contrastingly, silver prices remained steady in the domestic market. The per-tola price of 24-karat silver held at Rs2,600, while the 10-gramme price stood at  Rs2,229.08.

    On the global stage, the international spot gold market exhibited stability, with the current trading price at $2,025.9 [12:49 pm PST].

    This value remains unchanged in comparison to the closing figure from the preceding session. 

    Market analysts continue to monitor these fluctuations, as economic factors and global dynamics contribute to the ever-evolving landscape of precious metal prices.

    Gold prices, Karachi Sarafa Association, 24-karat gold, 22-karat gold, Rs168,338, silver prices, stable market, 10-gram, global spot gold, market analysis, precious metals, economic trends, gold price in Pakistan, 

  • Gold rate in local market declines by Rs1,400 to Rs213,800 per tola

    Gold rate in local market declines by Rs1,400 to Rs213,800 per tola

    In a noteworthy development, gold prices in Pakistan experienced a decline on Thursday, with the tola rate of 24 karat gold decreasing by Rs1,400.

    The current per-tola gold price in Pakistan now stands at Rs213,800 in local bullion market.

    According to market insiders, the price for 10 grammes of 24 karat gold witnessed a reduction of Rs1,200, reaching Rs183,300 in the domestic market, as reported by the All Sindh Sarafa Jewellers Association.

    Simultaneously, the prices of both per tola and 10-gramme silver saw a reduction, falling by Rs1200 to Rs183,300.

    Meanwhile, in the international market, the price of gold exhibited a rise of $12, reaching $2035. Gold prices, on the whole, experienced a 0.2 per cent increase to $2,018 per ounce, hitting a session low of $2,013.

    This came after a 0.75 per cent decrease on Wednesday, marking a one-week trough at $2,011, spurred by robust US economic data. The market dynamics are being closely observed for further insights into these fluctuations.

  • Gold price rebounds in Pakistan, registers Rs500 gain

    Gold price rebounds in Pakistan, registers Rs500 gain

    In a notable recovery, the gold price in Pakistan rebounded from yesterday’s losses, marking an upward trend in the market. 

    The latest figures from the Karachi Sarafa Association indicate that 24-karat gold is now fetching Rs215,200 per tola, showcasing a gain of Rs500. 

    Additionally, the 10-gramme 24-karat gold stands at Rs184,500, reflecting a significant increase of Rs429 day-on-day. 

    Meanwhile, the price of 10-gramme 22-karat gold is reported at Rs169,124.

    Contrastingly, silver maintains stability in the domestic market, with 24-karat silver priced at Rs2,600 per tola and Rs2,229.08 per 10-gramme. 

    On the global front, the international spot gold market is currently trading at $2,026.87 [03:24 p.m. PST], marking a gain of $6.29 or 0.31 per cent for the day.

    It’s worth noting that the domestic gold market experienced a substantial setback last week, witnessing a drop of Rs2,150 per tola. 

    Analysts attribute this decline to the overall downturn in international gold prices and the continuous strengthening of the home currency. 

  • 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 prices in Pakistan rebound, surging Rs1,300 per tola

    Gold prices in Pakistan rebound, surging Rs1,300 per tola

    Gold prices in Pakistan rebounded significantly on Friday, overcoming a challenging trend in the preceding three sessions. 

    The value of 24-karat gold surged by Rs1,300 per tola, reaching Rs215,000, according to the Karachi Sarafa Association. 

    The price for 10-gramme 24-karat gold witnessed an increase of Rs1,115, standing at Rs184,328. Additionally, the rate for 10-gramme 22-karat gold was Rs168,976, compared to yesterday’s Rs167,945.

    In contrast, silver maintained stability in the domestic market, with 24-karat silver selling at Rs2,600 per tola and Rs2,229.08 per 10-gramme. 

    On the global front, international spot gold continued its positive momentum, currently trading at $2,027.32. 

    Despite today’s uptick, global gold is poised for its weakest weekly performance in the past six weeks, driven by diminishing expectations for interest rate cuts. 

    This decline in commodity prices is attributed to central bankers pushing back against market bets for rate cuts, contributing to a widespread selloff across stocks and bonds.

  • 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 prices dip in Pakistan: 24-carat gold settles at Rs217,300 per tola

    Gold prices dip in Pakistan: 24-carat gold settles at Rs217,300 per tola

    The domestic price of gold witnessed a decline, particularly impacting 24-karat gold in Pakistan, which dropped by Rs600 per tola to reach Rs217,300.

    According to the Karachi Sarafa Association, the price for 10 grammes of 24-karat gold was reported at Rs186,300, marking an increase of Rs514.

    The price for 10 grammes of 22-karat gold was Rs170,775 during this period.

    In contrast, silver remained steady in the local market, with 24-karat silver being traded at Rs2,650 per tola and Rs2,271.94 per 10 grammes.

    Internationally, the spot price of gold experienced a decline of $15, or 0.74%, reaching $2,039. It’s noteworthy that, at the time of the Karachi Sarafa Association’s report, the international spot rate had decreased by $8.

    It’s worth mentioning that 24-karat gold in Pakistan has observed a decline for the second consecutive week, as reported in the previous week.

  • Gold price in Pakistan witnesses marginal increase of Rs200 per tola

    Gold price in Pakistan witnesses marginal increase of Rs200 per tola

    On Thursday, the domestic market witnessed a rise in the per tola rate of 24 karat gold, with an increment of Rs200. 

    According to the All Sindh Sarafa Jewellers Association, the price for 10 grammes of 24 karat gold also surged by Rs200, reaching Rs216,300.

    Additionally, both the per tola and 10-gramme silver prices experienced an increase of Rs171, reaching Rs185,442.

    Internationally, the cost of gold rose by $5, reaching $2052. At 0942 GMT, spot gold exhibited a 0.4 per cent increase, reaching $2,031.83 per ounce.

    Simultaneously, US gold futures demonstrated a 0.4 per cent rise, reaching $2,036.60.

    In other markets, silver saw a 0.6 per cent increase, reaching $23.01 per ounce, palladium gained 0.9 per cent, reaching $1,007.80, and platinum exhibited a 0.2 per cent rise, reaching $920.58.

  • Gold prices in Pakistan wrap up first week of 2024 on a decline

    Gold prices in Pakistan wrap up first week of 2024 on a decline

    The gold prices in Pakistan concluded the initial week of 2024 on a downward trajectory, witnessing a notable drop in the value of 24-karat gold.

    According to reports from the Karachi Sarafa Association, the price of 24-karat gold plummeted by Rs2,000 per tola, settling at Rs218,000.

    Contrary to this trend, the association noted that 24-karat gold experienced a gain of Rs1,000 per tola in today’s trading session, offering a glimmer of positivity in an otherwise challenging week.

    The closing figures for the last trading session revealed that 10-gramme 24-karat gold reached Rs186,900, showcasing an increase of Rs857.

    Similarly, the price of 10-gramme 22-karat gold stood at Rs171,325, marking a rise of Rs786.

    Investors in the domestic bullion market enjoyed substantial returns in 2023, with the yellow metal delivering an impressive 19.63% yield for the year.

    The concluding price of 24-karat gold in 2023 stood at Rs220,000 per tola, a notable surge compared to Rs183,900 per tola in the same period last year (SPLY).

    Adding to the dynamics of the market, the Pakistani Rupee (PKR) extended its winning streak, appreciating by an additional 46 paisa against the US dollar.

     This marks the eighth consecutive appreciation for the Pakistani rupee, driven by positive market sentiments.

    Analysts attribute this positive trend to the anticipation of the approval of the second loan tranche worth $700 million by the International Monetary Fund (IMF).

    Pakistan’s inclusion in the IMF’s meeting agenda for January 11, 2024, has heightened expectations of economic support.

    It’s essential to recognise the intricate relationship between domestic gold prices and the local currency.

    As gold is denominated in US dollars, any appreciation of the Pakistani rupee against the greenback tends to result in a decline in the value of gold.

    In conclusion, the first week of 2024 has been a mixed bag for the gold market in Pakistan, with fluctuating prices and external factors influencing the dynamics.

    Investors are likely to keep a close eye on both international economic developments and local market conditions as they navigate the complexities of the gold trade.

  • 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.