Tag: bullion

  • Gold prices in Pakistan remain unaffected by political uncertainties

    Gold prices in Pakistan remain unaffected by political uncertainties

    Despite political uncertainties, the domestic bullion market exhibited stability, with 24-karat gold maintaining its price at Rs215,500 on Friday, showing no deviation from the previous session.

    This stability is indicative of the domestic gold market functioning normally, aligning with international gold rates and the exchange rate.

    The Karachi Sarafa Association reported that the prices of 10-gramme 24-karat gold and 10-gramme 22-karat gold also remained constant at Rs184,756 and Rs169,360, respectively.

    Similarly, silver prices showed resilience in the domestic market, with 24-karat silver being traded at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

    On the global stage, the international spot gold exhibited minimal fluctuations, standing at $2,033.5 as of 12:40 pm.

    This stability in both domestic and international markets suggests a steady scenario despite the prevailing political uncertainties.

  • Gold prices surge in Pakistani market, 24-karat hits Rs216,500 per tola

    Gold prices surge in Pakistani market, 24-karat hits Rs216,500 per tola

    On Friday, the domestic bullion market saw a modest increase, with the price of 24-karat gold in Pakistan rising by Rs200 per tola to reach Rs216,500.

    The Karachi Sarafa Association noted that the price of 10-gramme 24-karat gold reached Rs185,614, indicating a gain of Rs172, while the 10-gramme 22-karat gold stood at Rs170,146.

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

    On the global scale, international spot gold is currently trading at 2,036.75, marking an increase of $8.55 or 0.4% for the day.

    Notably, when the Karachi Sarafa Association reported local rates, the spot rate in the international market had seen a slight uptick of $4.

  • Gold price in Pakistan settles at Rs216,800 per tola

    Gold price in Pakistan settles at Rs216,800 per tola

    In a noteworthy shift, the per-tola price of 24 karat gold witnessed a decrease of Rs1,800, settling at Rs216,800 on Saturday.

    This marks a discernible drop from its previous standing of Rs218,600 during the last trading day.

    Similarly, the cost of 10 grammes of 24 karat gold experienced a dip of Rs1,543, now standing at Rs185,871 as opposed to its previous valuation of Rs187,414.

    Meanwhile, the prices of 10 grammes of 22-karat gold also exhibited a downward trend, reaching Rs170,382 from Rs171,796, as reported by the All Sindh Sarafa Jewellers Association.

    Contrastingly, the prices of silver remained unchanged, with per tola and ten gramme silver holding steady at Rs2,670 and Rs2,289.09, respectively.

    Taking a broader perspective, the international gold market saw a decline as well, with the price of gold dropping by $15 to $2,040 from its previous position at $2,055, according to the latest report from the Association.

    This shift in the precious metals market has sparked interest and attention within financial circles.

  • Gold prices hit an all-time high of Rs152,000 per tola

    Gold prices hit an all-time high of Rs152,000 per tola

    On Wednesday, the price of gold in Pakistan rose to an all-time high, reaching Rs152,000 per tola, primarily as a result of increased demand and the weakening of Pakistani rupee (PKR).

    Just on Wednesday, gold prices increased by Rs2,500. The price per tola has climbed by a total of Rs10,900 since July 1 with the most recent hike.

    Pakistan often follows the trajectory of the global market for bullion and other precious metals. A declining rupee, however, has altered the situation.

    According to Akhtar Tesori, chairman of the Pakistan Gems Jewellery Traders and Exporters Association (PGJTEA), demand for gold jewelry was significantly decreased in the country during the past several months.

    In the interbank market on Wednesday, the rupee finished at Rs236.02. This is a new record low for the rupee versus the US dollar.

    The cost of silver in the domestic market remained steady at Rs1,600 for a tola and Rs1,371.74 for a gramme.