Tag: gold price in Karachi

  • Gold price surges to new all-time high in Pakistan, now at Rs260,700 per tola

    Gold price surges to new all-time high in Pakistan, now at Rs260,700 per tola

    Gold prices in Pakistan surged to new record highs on Tuesday, following an upward trend in international markets.

    The price per tola of gold in the local market increased by Rs700, reaching an all-time high of Rs260,700.

    This latest figure surpasses the previous record of Rs260,200 per tola set just last week, marking a Rs500 increase from the last historic high.

    The price of 10-gramme gold also saw a rise, selling at Rs223,508 after an increase of Rs600, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    On Monday, the gold price had dipped slightly to Rs260,000, a Rs200 decrease. However, the international gold rate edged higher on Tuesday, with prices reaching $2,512 per ounce, including a $20 premium, reflecting a $10 gain during the day.

    Meanwhile, silver prices remained stable at Rs2,950 per tola.

  • Gold price increases by Rs1,000 to Rs256,500 per tola

    Gold price increases by Rs1,000 to Rs256,500 per tola

    On Friday, the price of gold in Pakistan saw a rise, with 24-karat gold being traded at Rs256,500 per tola, an increase of Rs1,000.

    The Karachi Sarafa Association noted that the price remains Rs2,000 below its actual value.

    The cost of 24-karat gold was reported at Rs219,907 per 10 grammes, up by Rs857. In comparison, the price of 22-karat gold was quoted higher at Rs201,582 per 10 grammes.

    In contrast, silver prices in the domestic market held steady, with 24-karat silver priced at Rs2,850 per tola and Rs2,443 per 10 grammes.

    On the international front, spot gold was trading near $2,432 per ounce, reflecting an increase of $7.10 or 0.29 per cent from the previous session.

  • Gold price in Pakistan falls from record high to Rs256,800 per tola

    Gold price in Pakistan falls from record high to Rs256,800 per tola

    Gold prices in Pakistan experienced a decline on Saturday, following a rise in the previous session, reflecting a downward trend in international markets.

    In the local market, the price of gold per tola fell to Rs256,800, marking a decrease of Rs500.

    The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of 10 grammes of gold dropped by Rs429, bringing it to Rs220,165.

    On Friday, gold prices had surged by Rs2,400 per tola, reaching a record high of Rs257,300.

    Globally, gold prices also fell on Saturday. The APGJSA noted that the international price stood at $2,443 per ounce, which included a $20 premium, after experiencing a $15 decrease during the day.

    In contrast, silver prices remained unchanged, holding steady at Rs2,900 per tola.

  • Gold price increases by Rs1,400 to Rs254,900 per tola

    Gold price increases by Rs1,400 to Rs254,900 per tola

    On Thursday, gold prices in Pakistan experienced a notable increase. The price of 24-karat gold reached Rs254,900 per tola, marking a rise of Rs1,400.

    According to the Karachi Sarafa Association, the cost of 24-karat gold was reported at Rs218,536 per 10-gramme, up by Rs1,201. Meanwhile, 22-karat gold prices also saw an uptick, quoted at Rs200,324 per 10-gramme.

    In contrast, silver prices in the domestic market remained steady. The price for 24-karat silver was unchanged at Rs2,900 per tola and Rs2,486 per 10-gramme.

    On the international stage, spot gold traded at approximately $2,433 per ounce, experiencing a decrease of $12.30, or 0.50 per cent, from the previous session.

  • Gold price increases by Rs800 to Rs240,800 per tola

    Gold price increases by Rs800 to Rs240,800 per tola

    The domestic bullion market experienced a notable rebound on Monday, with the price of 24-karat gold rising by Rs800 to Rs240,800 per tola.

    This increase comes after a week of losses, reflecting a significant shift in the market dynamics.

    The recent surge in gold prices is attributed to a robust rally in the international market. Initially, local gold dealers underpriced the metal by Rs4,000 per tola due to a substantial reduction in purchasing power.

    However, the current rates are now aligned with transparent international pricing, factoring in the exchange rate fluctuations that influenced last week’s decline.

    According to the Karachi Sarafa Association, the price of 24-karat gold increased to Rs206,447 per 10 grammes, marking a rise of Rs686. Similarly, the price of 22-karat gold climbed to Rs189,243 per 10 grammes.

    In contrast, silver prices remained stable in the domestic market. The price for 24-karat silver held steady at Rs2,800 per tola and Rs2,400.54 per 10 grammes.

    On the international stage, gold is currently trading at $2,343.37 per ounce, up by 0.41 per cent or $9.8 compared to the previous close. Investors are closely monitoring the likelihood of U.S. interest rate cuts, particularly ahead of a key inflation report expected later this week.

  • Gold prices in Pakistan dip marginally amid declining purchasing power

    Gold prices in Pakistan dip marginally amid declining purchasing power

    Gold prices in Pakistan saw a slight decline on Wednesday, with the rate for 24-karat gold falling by Rs300 to Rs248,200 per tola.

    The Karachi Sarafa Association reported that the price of 24-karat gold also decreased to Rs212,791 per 10 grammes, marking a drop of Rs236. Similarly, the price of 22-karat gold was adjusted to Rs195,059 per 10 grammes.

    This decrease in gold prices can be attributed to a significant reduction in purchasing power, with the current rate maintained at Rs4,000 below its actual cost. 

    In contrast, silver prices remained stable in the domestic market. The price for 24-karat silver was steady at Rs2,850 per tola and Rs2,443.41 per 10 grammes.

    On the global stage, international spot gold traded near $2,418.3 per ounce, down by 0.11 per cent for the day. A notable trend is emerging in China, the world’s largest consumer of gold, where bullion imports have slowed.

    April saw overseas purchases of physical gold fall to 136 tons, a 30 per cent decrease from the previous month and the lowest total for the year, as per the latest customs data.

    Meanwhile, international silver prices held near an 11-year high. The surge in silver prices is driven by increased investor interest, a favourable macroeconomic environment, and a projected fourth annual market deficit. 

    The evolving dynamics in the precious metals market reflect broader economic trends and shifting consumer behaviours globally.

  • Gold price in Pakistan remains unchanged on first trading day of the week

    Gold price in Pakistan remains unchanged on first trading day of the week

    On the first trading day of the week, gold prices in Pakistan maintained stability while witnessing a slight uptick in the global market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market reported no change in the price of gold per tola, standing firm at Rs228,200.

    Similarly, the rate for 10 grammes of gold remained unchanged at Rs195,645.

    This follows a notable decline in gold prices observed in the previous session, where rates plummeted by Rs4,200 per tola.

    However, on Monday, the international market witnessed a modest increase in gold prices. With a premium of $20, the global rate of gold rose by $2, settling at $2,187 per ounce, as reported by APGJSA.

    Meanwhile, silver rates in the domestic market remained stable at Rs2,580 per tola, showing no significant fluctuations.

    The consistent performance of precious metals in Pakistan reflects a steadiness in the market amid global economic dynamics.

    The stability in gold prices locally, coupled with the marginal gain in the international market, underscores the cautious sentiment prevailing among investors amidst evolving geopolitical and economic factors.