Tag: gold price in Pakistan today

  • Another record high in three days: Gold price reaches Rs265,900 per tola

    Another record high in three days: Gold price reaches Rs265,900 per tola

    After a little break, gold prices in Pakistan rebounded on Friday and surged to highest level ever seen in the country’s history. The 24-karat gold price witnessed a notable single-day increase of Rs2,900 per tola and closed at Rs265,900.

    This follows a decline of Rs1,000 seen in the price of precious metal, which pushed its rate to Rs263,000 per tola on Thursday.

    It is worth noting that the last record high price was observed less than three days ago when the bullion market quoted the gold’s rate at Rs264,000 per tola.

    Interestingly, before the gold hit the Rs264,000 per tola mark, the then record high price of gold was observed in August when local gold markets quoted gold at Rs263,700 per tola.

    According to All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), as of today, the ten-gramme gold rate stands at Rs227,966 after surging by Rs2,486.

    Read more: FBR considering imposing hefty fines, freezing bank accounts for false or incomplete tax filings

  • 24-karat gold price surges by Rs2,300 to Rs252,800 per tola

    24-karat gold price surges by Rs2,300 to Rs252,800 per tola

    On Wednesday, gold prices in Pakistan saw a notable increase. The rate for 24-karat gold surged to Rs252,800 per tola, marking a rise of Rs2,300.

    Despite this uptick, the price remains Rs3,000 below its true market value, a consequence of diminished purchasing power.

    According to the Karachi Sarafa Association, 24-karat gold is now priced at Rs216,735 per 10 grammes, an increase of Rs1,972. Meanwhile, 22-karat gold has also risen, with its new rate set at Rs198,674 per 10 grammes.

    In contrast, silver prices in the domestic market held steady. The price of 24-karat silver remained unchanged at Rs2,920 per tola and Rs2,503 per 10 grammes.

    On the international stage, spot gold traded at approximately $2,414 per ounce, reflecting a modest gain of $5.50 or 0.23 per cent from the previous session.

  • Gold price surges by Rs600 to Rs241,900 per tola

    Gold price surges by Rs600 to Rs241,900 per tola

    The price of gold in Pakistan saw a notable increase on Wednesday, with 24-karat gold reaching Rs241,900 per tola, marking a rise of Rs600 per tola.

    According to the Karachi Sarafa Association, the price of 24-karat gold per 10 grammes also climbed, now standing at Rs207,390, an increase of Rs514.

    Similarly, 22-karat gold experienced a price hike, with the new rate quoted at Rs190,108 per 10 grammes. In contrast, silver prices remained stable in the domestic market. The price of 24-karat silver held steady at Rs2,750 per tola and Rs2,358 per 10 grammes.

    On the international stage, spot gold traded near $2,314 per ounce, showing little change from the previous session. Investors are keeping a close watch on the upcoming US inflation data, which is set to be released just hours before the Federal Reserve’s decision on interest rates today.

    This data could significantly influence gold prices, as any shifts in interest rates may impact investor sentiment and demand for precious metals.

    The recent surge in gold prices in Pakistan reflects the broader global economic uncertainties and the anticipation of key economic indicators that could sway the market in the coming days.

  • 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 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 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 prices remain unchanged in Pakistan amid global market stability

    Gold prices remain unchanged in Pakistan amid global market stability

    Gold prices in Pakistan remained steady on Friday, in line with the unchanged trend witnessed in the global market for the precious metal.

    As reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), there were no fluctuations in the local market’s gold prices.

    The price per tola remained firm at Rs228,550, while the rate for 10 grammes stayed constant at Rs195,945.

    This stability followed a minor increase in gold rates noted on Thursday, with a rise of Rs250 per tola reported.

    Similarly, the international gold price held its ground on Friday, standing at $2,188 per ounce with a $20 premium, as verified by APGJSA.

    Silver prices also maintained their stability, remaining unchanged at Rs2,600 per tola.