Tag: Gold price in Pakistan

  • Fourth straight decline: Gold price drops by Rs1,800 per tola

    Fourth straight decline: Gold price drops by Rs1,800 per tola

    In a continuing trend, gold prices in Pakistan fell by Rs1,800 per tola on Friday, marking the fourth consecutive session of decline.

    This drop aligns with a decrease in international gold rates. As of the latest update, the price of gold per tola in Pakistan is Rs240,200.

    Similarly, the price of 10-gramme gold also saw a reduction, shedding Rs1,543 to settle at Rs205,933, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This decline follows a significant drop on Thursday, where gold prices decreased by Rs6,200 per tola in the local market.

    On the international front, gold prices eased further on Friday. The APGJSA reported the international rate at $2,338 per ounce, which includes a $20 premium, after a $17 drop during the day.

    In contrast, silver prices remained stable, holding steady at Rs2,800 per tola.

    Last month, gold prices in Pakistan reached an all-time high of Rs252,200 per tola, highlighting the recent volatility in the precious metals market.

  • Sharp drop in gold prices: 24-karat gold down by over Rs6,000 per tola

    Sharp drop in gold prices: 24-karat gold down by over Rs6,000 per tola

    In a substantial decline aligned with global trends, gold prices in Pakistan saw a sharp decrease on Thursday. The price of 24-karat gold fell by Rs6,200, bringing the new rate to Rs242,000 per tola.

    Notably, the current market price has been set Rs4,000 below its actual cost. This adjustment reflects a significant reduction in purchasing power within the country, impacting the gold market.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes also dropped, now standing at Rs207,476 after a decrease of Rs5,315. Similarly, the price of 22-karat gold fell to Rs190,186 per 10 grammes.

    Silver prices mirrored this downward trend in the domestic market. The price of 24-karat silver decreased to Rs2,800 per tola and Rs2,400.54 per 10 grammes, representing a fall of Rs50 per tola and Rs42.87 per 10 grammes.

    On the international stage, spot gold prices have declined from recent record highs. The price per ounce fell by 0.62 per cent to $2,364 on Thursday, following a 1.74 per cent drop on Wednesday.

    These price adjustments in both gold and silver highlight the ongoing volatility in the precious metals market, influenced by a combination of domestic economic factors and global financial trends.

  • 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 plummets by Rs1,900 per tola in Pakistan amid global decline

    Gold price plummets by Rs1,900 per tola in Pakistan amid global decline

    Gold prices in Pakistan fell on Tuesday, reflecting a drop in international rates. The price of gold per tola in the local market declined by Rs1,900, settling at Rs248,500, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    Similarly, the price of 10 grammes of gold decreased by Rs1,630, bringing it down to Rs21,048.

    This decline comes after a significant increase on Monday, when gold prices surged by Rs2,300 per tola in Pakistan.

    Internationally, the gold rate saw a decrease on Tuesday. According to APGJSA, the global price of gold was set at $2,418 per ounce, inclusive of a $20 premium, following a $21 drop during the day.

    In contrast, silver prices remained unchanged, holding steady at Rs2,850 per tola.

    Just last month, gold prices in Pakistan reached a record high of Rs252,200 per tola, marking an all-time peak in the local market.

  • Gold price surges by Rs2,300 to Rs250,400 per tola

    Gold price surges by Rs2,300 to Rs250,400 per tola

    Gold prices in Pakistan experienced significant increases on Monday, mirroring the rise in international markets. According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged by Rs2,300, reaching Rs250,400.

    Similarly, the price for 10 grams of gold saw a notable rise, gaining Rs1,972 to sell at Rs214,678. These increases reflect the upward trend in global gold prices, which rose by $25 to $2,439 per ounce, inclusive of a $20 premium.

    In contrast, silver prices remained stable at Rs2,850 per tola.

    This recent surge in gold prices comes after the metal hit a record high of Rs252,200 per tola last month. Just two days prior, on Saturday, gold prices in Pakistan had already increased by Rs3,100 per tola.

    These fluctuations highlight the strong connection between local and international precious metal markets, with local prices adjusting swiftly in response to global economic conditions.

  • Gold prices rebound, increase by Rs3,100 per tola

    Gold prices rebound, increase by Rs3,100 per tola

    On Saturday, gold prices in Pakistan saw a significant rise, mirroring the upward trend in the international market.

    According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola reached Rs248,100, marking a single-day increase of Rs3,100.

    Similarly, the price of 10-gramme gold surged to Rs212,706, reflecting a gain of Rs2,658.

    This spike in local gold prices is in line with the international gold rate, which rose to $2,414 per ounce, inclusive of a $20 premium, after a $30 increase during the day.

    Silver prices also experienced an uptick, with rates reaching Rs2,850 per tola, an increase of Rs120.

    It is noteworthy that last month, gold prices in the local market hit a record high of Rs252,200 per tola. Despite this recent surge, gold prices showed a decline of Rs600 per tola on Friday.

    These fluctuations highlight the volatile nature of the precious metals market, influenced heavily by global economic trends and investor sentiment.

  • 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 increases by Rs1,600 to Rs245,600 per tola

    Gold price increases by Rs1,600 to Rs245,600 per tola

    Gold prices in Pakistan continued their upward trend on Thursday, mirroring the surge in the global market rates.

    According to the latest data from the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola reached Rs245,600, marking a notable increase of Rs1,600 within a single day.

    Similarly, the 10-gramme gold rate climbed to Rs210,562, reflecting a rise of Rs1,371.

    The international gold rate also experienced an upswing on Thursday, as reported by APGJSA. It reached $2,390 per ounce, with an additional premium of $20, following a $25 increment throughout the day.

    In parallel, silver prices witnessed a hike, settling at Rs2,730 per tola after an uptick of Rs80.

    This surge in gold and silver prices comes after a recent record high last month, where gold soared to Rs252,200 per tola in the domestic market. Notably, just the previous day, gold prices in Pakistan had risen by Rs2,900 per tola.

    The continuous rise in precious metal prices both domestically and internationally underscores the ongoing volatility in the global economic landscape, influencing investment patterns and consumer sentiments in Pakistan’s bullion market.

  • Gold prices rebound, increasing by Rs2,900 per tola

    Gold prices rebound, increasing by Rs2,900 per tola

    Gold prices in Pakistan experienced a notable turnaround on Wednesday, bouncing back after a downward trend observed over the past three sessions.

    This resurgence coincided with a global uptick in gold rates. In local markets, the price of gold per tola surged to Rs244,000, marking a substantial single-day increase of Rs2,900.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grammes of gold reached Rs209,191 following a rise of Rs2,487.

    Internationally, the price of gold also witnessed a rise during the day. APGJSA reported an international rate of $2,365 per ounce, with an additional premium of $20, reflecting an increase of $28.

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

    Notably, the local gold market had reached a record high last month, with prices hitting Rs252,200 per tola.

    This positive turn comes after a decrease of Rs1,200 per tola observed on Tuesday in the gold prices in Pakistan.

  • Gold price declines to Rs241,100 per tola in Pakistan

    Gold price declines to Rs241,100 per tola in Pakistan

    Gold prices in Pakistan experienced a decline on Tuesday, with 24-karat gold witnessing a drop of Rs1,200 to reach Rs241,100 per tola.

    Notably, this price is maintained Rs3,000 lower than its actual value today.

    The association overseeing these fluctuations attributed this adjustment to the substantial decrease in purchasing power, opting to keep the price Rs3,000 below its actual cost.

    Contrastingly, in the previous week, 24-karat gold had observed an increase of Rs5,500 per tola.

    According to the Karachi Sarafa Association, the current price of 24-karat gold stands at Rs207,733 per 10 grammes, marking a decrease of Rs943.

    Similarly, the price of 22-karat gold has been quoted at Rs189,479 per 10 grammes, depicting a downward trend.

    Internationally, the spot gold market showed resilience, hovering around $2,338.4 an ounce, following a 1% decline observed yesterday.

    Meanwhile, silver prices remained stable in the domestic market, with 24-karat silver being traded at Rs2,650 per tola and Rs2,271.94 per 10 grammes.