Tag: Gold price in Lahore

  • Gold price falls from peak, now at Rs261,500 per tola

    Gold price falls from peak, now at Rs261,500 per tola

    Gold prices in Pakistan experienced a notable decline on Thursday, reversing the momentum of consecutive record highs achieved in the previous sessions.

    This drop in local gold rates occurred despite an uptick in international prices, reflecting a divergence between domestic and global trends.

    In the local market, the price of gold per tola fell by Rs2,200, bringing it down to Rs261,500. Similarly, the price of 10-gram gold witnessed a decrease of Rs1,886, settling at Rs224,194, as per the rates provided by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This decline comes after a steady increase that saw gold prices reach Rs263,700 per tola on Saturday, following a rise of Rs1,700.

    Contrary to the local market trend, the international gold price edged up on Thursday. According to APGJSA, the global rate for gold was reported at $2,516 per ounce, including a premium of $20, marking an increase of $4 during the day.

    Read more: State Bank’s foreign exchange reserves surge by $112 million in a week

    Despite this rise in international prices, the local market’s reaction suggests other factors at play in determining gold prices in Pakistan.

    Meanwhile, silver prices in the local market remained stable, with no change reported. The rate for silver stood firm at Rs2,950 per tola, reflecting a steady demand and supply situation.

    This fluctuation in gold prices highlights the complexities of the market, influenced by both domestic and international factors, making it a subject of keen interest for investors and consumers alike.

  • 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 Rs700 to Rs241,000 per tola

    Gold price increases by Rs700 to Rs241,000 per tola

    The price of gold in Pakistan saw a notable increase on Tuesday, with 24-karat gold reaching Rs241,000 per tola, marking a Rs700 rise from the previous session.

    This hike comes despite efforts to maintain prices below their actual value to accommodate the reduced purchasing power among consumers. Currently, gold prices are set Rs3,000 lower than their market cost.

    In a broader context, last week witnessed a mild recovery in Pakistan’s bullion market. The price of 24-karat gold edged up by Rs300, settling at Rs240,300 per tola.

    The Karachi Sarafa Association reported an additional increase this week, with 24-karat gold rising by Rs600 to Rs206,619 per 10 grammes. In comparison, 22-karat gold was priced at Rs189,400 per 10 grammes.

    Silver prices remained stable, with 24-karat silver selling for Rs2,900 per tola and Rs2,486.28 per 10 grammes.

    On the international stage, spot gold traded near $2,331.69 an ounce, experiencing a decline of 0.81 per cent from the previous close. The global gold market is currently influenced by uncertainties surrounding potential interest rate cuts by the Federal Reserve.

    This ambiguity has caused confusion among market participants regarding the future trend of inflation, contributing to the recent depreciation in gold prices.

    The fluctuating gold prices in Pakistan reflect a combination of local economic conditions and international market trends, illustrating the intricate balance between domestic fiscal strategies and global economic influences.

  • Gold price surges by Rs2,400 per tola amid declining purchasing power

    Gold price surges by Rs2,400 per tola amid declining purchasing power

    In a notable upswing, the price of 24-karat gold in Pakistan surged by Rs2,400 on Wednesday, bringing the cost to Rs242,700 per tola.

    This increase reflects the ongoing volatility in the gold market, influenced by both domestic and international factors.

    Interestingly, the current price of gold remains Rs3,000 below its actual market value. This discrepancy is primarily attributed to a reduction in purchasing power, as reported by market analysts.

    The Karachi Sarafa Association disclosed that the price of 24-karat gold also rose to Rs208,076 per 10 grammes, marking an increase of Rs2,058.

    The price of 22-karat gold followed this upward trend, reaching Rs190,736 per 10 grammes. 

    Silver prices have also climbed, keeping pace with international trends. The price of 24-karat silver now stands at Rs2,900 per tola and Rs2,486.28 per 10 grammes, up by Rs100 per tola and Rs85.74 per 10 grammes, respectively.

    On the global stage, spot gold traded at approximately $2,345.04 per ounce, a decline of 0.66 per cent from the previous day’s closing. In contrast, spot silver maintained its strength, trading near $32 per ounce after recording a 1.36 per cent increase the previous day.

  • 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.

  • 24-karat gold price declines to Rs245,000 per tola

    24-karat gold price declines to Rs245,000 per tola

    Gold prices in Pakistan saw a downturn on Friday, marking a loss of Rs600 for 24-karat gold, now priced at Rs245,000 per tola. Notably, this adjustment places the current price at a significant Rs4,000 below its actual value.

    The Karachi Sarafa Association highlighted the rationale behind this pricing strategy, citing a noteworthy decline in purchasing power. Accordingly, the decision was made to reduce the price by Rs4,000 to better align with market dynamics.

    Last week, 24-karat gold experienced an upward trend, witnessing an increase of Rs5,500 per tola. However, the latest figures indicate a reversal in this trajectory, with the price now standing at Rs210,048 per 10-gramme, down Rs514. Similarly, the price of 22-karat gold was marked lower at Rs192,544 per 10-gramme.

    Meanwhile, silver prices remained stable in the domestic market, with 24-karat silver holding steady at Rs2,730 per tola and Rs2,340.53 per 10-gramme.

    Internationally, the spot gold market witnessed a modest increase, hovering around $2,388.8 an ounce, marking a 0.5 per cent rise for the day. This upward movement contributes to a weekly gain of 1.2 per cent for the yellow metal.

  • 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.

  • Gold price drops by Rs1,050 per tola in Pakistan

    Gold price drops by Rs1,050 per tola in Pakistan

    On Saturday, gold rates in Pakistan saw a decline, mirroring the global trend where prices dipped.

    The precious metal was valued at Rs227,500 per tola after experiencing a drop of Rs1,050 throughout the day. Similarly, the 10-gramme gold price stood at Rs195,045, marking a decrease of Rs900.

    These figures were provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    The previous day, Friday, gold prices had remained steady at Rs228,550 per tola. However, Saturday witnessed a shift as the international rate of gold, with a premium of $20, settled at $2,175 per ounce.

    This reflects a $13 decrease in the international market, as reported by APGJSA.

    In contrast, silver rates remained unchanged at Rs2,600 per tola, indicating stability in that market segment amidst the fluctuations in gold prices.

    The fluctuations in gold rates are closely monitored by investors and consumers alike, as they reflect not only economic dynamics within Pakistan but also global trends impacting the precious metals market.

    This dip in prices may influence consumer behaviour and investment decisions in the coming days.

  • 24-karat gold price dips slightly by Rs100 per tola

    24-karat gold price dips slightly by Rs100 per tola

    In the domestic bullion market, Tuesday saw a relatively stagnant session, with the price of 24-karat gold slipping by Rs100 to Rs230,100 per tola.

    Notably, this marks the first decline in gold prices in Pakistan following ten consecutive sessions of growth.

    Just last week, the price of 24-karat gold surged by almost Rs10,000 per tola, reaching levels unseen since September 2023.

    However, according to the Karachi Sarafa Association, the price of 10-gramme 24-karat gold dropped to Rs197,274 per tola, reflecting a decrease of Rs86.

    Similarly, the price of 10-gramme 22-karat gold experienced a slight dip, settling at Rs180,834.

    Contrastingly, silver prices remained stable today, with 24-karat silver maintaining its rate at Rs 2,600 per tola and Rs2,229.08 per 10-gramme.

    On the global stage, international spot gold traded near $2,177.14 an ounce, marking a 0.26% decrease from the previous session.

    Investors are closely monitoring Tuesday’s U.S. inflation data, anticipating its impact on monetary policy.

  • Gold price remains unchanged at Rs230,200 per tola

    Gold price remains unchanged at Rs230,200 per tola

    In a day of consistency, gold prices in Pakistan remained unaltered on Monday, mirroring the steady trend observed in the international 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, maintaining a steady Rs230,200.

    Similarly, the 10-gramme gold price remained constant at Rs197,360.

    The international market echoed this stability, with the global rate of gold holding firm at $2,198 per ounce on Monday. APGJSA noted a premium of $20, maintaining the equilibrium of the precious metal’s value.

    In parallel, silver prices also exhibited stability in the local market, remaining fixed at Rs2,600 per tola.

    This unswerving trend further highlights the current stability in the precious metals market, providing insights for investors and enthusiasts alike.