Tag: gold

  • Which bollywood star is the first to be awarded a gold coin in Paris?

    Which bollywood star is the first to be awarded a gold coin in Paris?

    Bollywood star Shah Rukh Khan has received a unique honor from the Grevin Museum in Paris, becoming the first actor to be celebrated with customized gold coins. Known as King Khan, he has had a distinguished career in film, spanning over three decades with many acclaimed movies.

    In 2018, the Grevin Museum first recognized his influence with a gold coin featuring his likeness. This August, SRK will also receive the Career Achievement Award at the Locarno Film Festival, where his film Devdas will be screened. He will be honored at the festival’s 77th edition from August 7-17, with his award presentation on August 10.

    Khan’s legacy includes wax statues in 14 locations worldwide, highlighting his significant impact on cinema and his enduring global fan base.

  • Gold price rebounds by Rs2,400 to Rs243,000 per tola

    Gold price rebounds by Rs2,400 to Rs243,000 per tola

    In a notable shift, gold prices in Pakistan surged significantly on Thursday, aligning with an upward trend in international markets.

    The local price of gold per tola (approximately 11.66 grammes) climbed to Rs243,000, marking a substantial single-day increase of Rs2,400.

    Similarly, the price of 10 grammes of gold rose by Rs2,057, reaching Rs208,333. These figures were reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This surge follows a minor decline on Wednesday, when the gold price per tola in Pakistan decreased by Rs400.

    Contrary to the local market trend, the international gold price witnessed a decrease on Thursday.

    According to the APGJSA, the international rate settled at $2,362 per ounce, inclusive of a $20 premium, after experiencing a $30 drop during the day.

    In contrast, silver prices remained stable, with the rate fixed at Rs2,800 per tola.

    It’s noteworthy that back in April, the price of gold in the local market reached an all-time high of Rs252,200 per tola, highlighting the volatility and significant fluctuations in the precious metals market.

  • 24-karat gold price drops by Rs1,500 to Rs241,200 per tola

    24-karat gold price drops by Rs1,500 to Rs241,200 per tola

    On Thursday, gold prices in Pakistan saw a significant decline, with the cost of 24-karat gold dropping by Rs1,500 to settle at Rs241,200 per tola.

    This decrease is noteworthy as the current price is kept Rs3,000 below its actual value, reflecting reduced purchasing power among consumers.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes fell by Rs1,286 to Rs206,790. Similarly, the price of 22-karat gold decreased, now quoted at Rs189,558 per 10 grammes.

    In contrast, silver prices remained stable. The price for 24-karat silver was unchanged at Rs2,900 per tola and Rs2,486.28 per 10 grammes.

    On the international market, spot gold was trading near $2,333 an ounce, marking a 0.22 per cent decline from the previous session. This downturn is largely influenced by investor sentiments regarding the potential for U.S. interest rate cuts.

    A key inflation report due later in the week has added to the market’s cautious outlook.

    Recent minutes from the Federal Reserve’s policy meeting indicated a commitment to maintaining higher interest rates for an extended period to combat persistent inflation.

    This policy stance is seen as bearish for gold, as higher interest rates increase the opportunity cost of holding non-yielding assets like gold, reducing its appeal.

    As economic conditions remain volatile, both local and international gold markets continue to respond to shifts in monetary policy and consumer demand.

  • Gold price in Pakistan dips by Rs1,200 per tola

    Gold price in Pakistan dips by Rs1,200 per tola

    Gold prices in Pakistan witnessed a decline on Monday, mirroring the downward trend in the international market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market saw a decrease in the price of gold per tola by Rs1,200, settling at Rs242,300 after a single-day fall.

    Similarly, the price of 10 grammes of gold dropped to Rs207,733, marking a decrease of Rs943, as reported by APGJSA.

    The international gold rate, as per APGJSA figures, was set at $2,349 per ounce, with a $20 premium, experiencing a $10 decrease during the day.

    In contrast, silver prices remained steady at Rs2,650 per tola.

    The recent decline comes after gold reached a record high of Rs252,200 per tola in the local market last month. Notably, on Saturday, gold prices in Pakistan had decreased by Rs300 per tola.

    The fluctuation in gold prices reflects the ongoing dynamics in both domestic and global markets, impacting investors and consumers alike.

  • Gold price in Pakistan falls to Rs243,500 per tola reflecting global decline

    Gold price in Pakistan falls to Rs243,500 per tola reflecting global decline

    Gold prices in Pakistan saw a decline on Saturday, mirroring the downward trend observed in the global market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market recorded a drop of Rs300 per tola, bringing the price to Rs243,500.

    For 10 grammes of gold, the price fell by Rs257, reaching Rs208,762, based on the rates shared by APGJSA.

    Internationally, the price of gold also experienced a decline on Saturday. APGJSA reported that the rate settled at $2,359 per ounce, with an additional premium of $20, marking a decrease of $7 throughout the day.

    In contrast, silver rates remained unchanged at Rs2,650 per tola.

    This decrease comes after a significant increase on Friday, where gold prices in Pakistan surged by Rs4,600 per tola.

    It’s noteworthy that just last month, gold reached an unprecedented high of Rs252,200 per tola in the Pakistani gold market, highlighting the volatility of precious metal prices in recent times.

  • 24-karat gold price remains unchanged at Rs239,200 per tola in local market

    24-karat gold price remains unchanged at Rs239,200 per tola in local market

    Gold prices in Pakistan held steady on Thursday, following two consecutive days of decline. The price for 24-karat gold was set at Rs239,200 per tola, unchanged from the previous session.

    In the last week, the price of 24-karat gold fell by Rs6,400 per tola, contributing to a cumulative loss of Rs14,200 per tola, or 5.63 per cent, over the past two weeks.

    According to the Karachi Sarafa Association, the price for 10 grammes of 24-karat gold remained at Rs205,075, while the price for 10 grammes of 22-karat gold stood at Rs187,986.

    Silver prices also remained steady in the domestic market, with 24-karat silver priced at Rs2,620 per tola and Rs2,254.8 per 10 grammes.

    Globally, the spot price of gold inched slightly downward. International spot gold was trading near $2,308.14 an ounce, down by 0.03 per cent compared to the previous trading session.

  • Gold price surges to Rs229,500 per tola

    Gold price surges to Rs229,500 per tola

    The local bullion market saw a modest rise on Wednesday, with 24-karat gold fetching Rs229,500 per tola, marking a Rs100 increase from the previous session.

    Last week, gold prices had surged by Rs700 per tola. According to the Karachi Sarafa Association, the price of 24-karat gold rose to Rs196,760 per 10 grammes, up by Rs86.

    Additionally, 22-karat gold was priced at Rs180,363 per 10 grammes.

    Silver prices, however, remained steady, with 24-karat silver maintaining its price at Rs2,580 per tola and Rs2,211.93 per 10 grammes.

    Internationally, spot gold approached its all-time high, trading at $2,181.6 an ounce, marking a 0.13 per cent increase for the day.

    Investors are closely observing the Personal Consumption Expenditures (PCE) index data, which serves as the Federal Reserve’s preferred measure of inflation.

    This data could offer insights into when the Federal Reserve might begin reducing interest rates. Lower interest rates typically benefit precious metals like gold, which do not yield interest.

  • Gold price increases by Rs4,600 to Rs232,400 per tola

    Gold price increases by Rs4,600 to Rs232,400 per tola

    Gold prices in Pakistan experienced a massive surge on Thursday, following cues from the Federal Reserve indicating its intention to proceed with three interest-rate cuts within the year.

    The price of 24-karat gold rose by Rs4,600 per tola, reaching Rs232,400. The Karachi Sarafa Association noted a similar trend, reporting a price increase of Rs3,943 for 24-karat gold per 10-gramme, now priced at Rs199,245.

    Correspondingly, 22-karat gold witnessed a rise, reaching Rs182,642 per 10-gramme.

    Furthermore, silver prices also saw an uptick in Pakistan. 24-karat silver was traded at Rs2,600 per tola and Rs2,229.08 per 10-gramme, marking an increase of Rs20 per tola and Rs17.15 per 10-gramme.

    Internationally, spot gold prices surged above $2,200 an ounce for the first time, following the US Federal Reserve’s decision and a dovish stance from Jerome Powell.

    The Federal Reserve opted to maintain interest rates at 5.25 per cent-5.5 per cent but upheld their forecast for three quarter-point rate reductions throughout the year.

    This announcement propelled the price of gold, reaching as high as 1.6 per cent to $2,220.89 an ounce during early trading, although it slightly retreated while still maintaining levels above $2,220.

  • 24-karat gold price increases to Rs227,300 per tola

    24-karat gold price increases to Rs227,300 per tola

    In Tuesday’s trading session, the local bullion market witnessed a modest recovery, as the price of 24-karat gold rose by Rs400 to reach Rs227,300 per tola.

    The Karachi Sarafa Association disclosed that the price of 24-karat gold for 10 grammes climbed to Rs194,873, marking a Rs343 increase.

    Similarly, the price of 22-karat gold saw an uptick, reaching Rs178,634 per 10 grammes.

    Contrarily, silver prices remained stable, with 24-karat silver maintaining its rate at Rs2,580 per tola and Rs2,211.93 per 10 grammes.

    Last week, 24-karat gold concluded its two-week ascent with a setback of Rs2,700 per tola.

    On the global scale, international spot gold hovered around $2,155 per ounce, experiencing a marginal decline of 0.25 per cent compared to the preceding session.

    This dip in the global market is attributed to dampened expectations of a US interest rate reduction following lackluster price data from the previous week.

    Notably, US consumer prices surpassed projections in February, while producer prices hinted at inflationary pressures.

  • Gold price in Pakistan increases by Rs250 to Rs228,550 per tola

    Gold price in Pakistan increases by Rs250 to Rs228,550 per tola

    The local bullion market exhibited stability on Thursday, with 24-karat gold fetching Rs228,550 per tola, marking an increase of Rs250 compared to the previous session.

    This pricing trend persists near its historical highs, fueled by anticipations of US interest rate adjustments, heightened Chinese purchasing activity, and ongoing geopolitical tensions.

    According to the Karachi Sarafa Association, the cost of 10-gramme 24-karat gold rose to Rs195,945 per tola, reflecting a gain of Rs215.

     Similarly, the price of 10-gramme 22-karat gold experienced a marginal uptick, reaching Rs179,616.

    Contrarily, silver rates remained unchanged today, with 24-karat silver trading at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

    Internationally, spot gold hovered around $2,169 per ounce, following a $16.8 or 0.78% increase yesterday.

    JPMorgan Chase & Co. identifies gold as the top preference in commodities markets, projecting a potential price surge to $2,500 per ounce this year.