Tag: Gold price in Pakistan

  • Gold price surges by Rs4,600 to Rs243,800 per tola

    Gold price surges by Rs4,600 to Rs243,800 per tola

    Gold prices in Pakistan experienced a substantial rise on Friday, reflecting a similar surge in the international market. The price of 24-karat gold increased by Rs4,600, bringing the cost to Rs243,800 per tola.

    Despite the sharp increase, the Karachi Sarafa Association has kept the price Rs3,000 below its actual cost.

    According to the association, this decision was made to accommodate the reduced purchasing power among consumers.

    “In view of the significant reduction in purchasing power, the price of gold today has been kept under cost by Rs3,000,” stated a spokesperson for the association.

    In recent weeks, the price of 24-karat gold has shown considerable fluctuations. Last week, it dropped by Rs6,400 per tola, leading to a cumulative loss of Rs14,200 per tola or 5.63 per cent over the past two weeks.

    Alongside the increase in 24-karat gold prices, other precious metals also experienced a boost.

    The Karachi Sarafa Association reported the price of 24-karat gold at Rs209,019 per 10-gramme, marking a gain of Rs3,944. Similarly, the price of 22-karat gold rose to Rs191,601 per 10-gramme.

    Silver prices followed the upward trend, with 24-karat silver priced at Rs2,650 per tola, up by Rs30. The price for 10-gramme 24-karat silver also rose, reaching Rs2,271.94, a gain of Rs25.72.

  • Gold price drops by Rs800 to Rs239,200 per tola

    Gold price drops by Rs800 to Rs239,200 per tola

    Gold prices in Pakistan continued their downward trend on Wednesday, with 24-karat gold losing Rs800 per tola and settling at Rs239,200.

    This drop follows a significant decline over the past two weeks, during which the price of 24-karat gold fell by Rs6,400 last week, bringing the total decrease to Rs14,200 per tola, a cumulative reduction of 5.63 per cent.

    According to the Karachi Sarafa Association, the price of 24-karat gold for 10 grammes dropped to Rs205,075, a decrease of Rs686 from the previous day. The price of 22-karat gold also decreased, with the 10-gramme rate quoted at Rs187,986.

    In contrast, silver prices remained steady in the domestic market. The price of 24-karat silver was unchanged at Rs2,620 per tola and Rs2,254.8 per 10-gramme.

    In the global market, spot gold continued to show weakness. It was trading near $2,311.76 an ounce, a decrease of 0.10 per cent compared to the previous close. This international dip contributed to the downward pressure on domestic gold prices.

    The recent declines in gold prices in Pakistan reflect broader trends in the international market, influenced by factors such as currency fluctuations, changes in demand, and global economic uncertainty.

    As a result, investors and consumers are keeping a close eye on these trends, watching for signs of further volatility or stability in the precious metals market.

  • Gold prices drop again in Pakistan, 24-karat gold loses Rs500 per tola

    Gold prices drop again in Pakistan, 24-karat gold loses Rs500 per tola

    Gold prices in Pakistan continued their downward trend on Tuesday, with the value of 24-karat gold dropping by Rs500 per tola, settling at Rs240,000.

    This decrease follows a substantial decline last week, when the price of 24-karat gold fell by Rs6,400 per tola. This marks a cumulative loss of Rs14,200 per tola, or approximately 5.63 per cent, over the past two weeks.

    The Karachi Sarafa Association reported that the price of 24-karat gold for 10 grammes also dropped by Rs429, reaching Rs205,761.

    The price of 22-karat gold was quoted at Rs188,615 per 10-gramme, reflecting the broader trend of falling gold prices in the domestic market.

    Silver prices, however, remained steady, with 24-karat silver maintaining a consistent rate of Rs2,620 per tola and Rs2,254.8 per 10-gramme, providing some stability in the otherwise volatile precious metals market.

    On the global front, international spot gold experienced a slight decline, trading near $2,314.5 per ounce, a 0.41 per cent drop compared to the previous session.

  • Gold price surges above Rs240,000 per tola

    Gold price surges above Rs240,000 per tola

    Gold prices in Pakistan experienced a rebound on Monday, following a steady decline over the past six trading sessions.

    This resurgence came as the international gold market saw a rise in prices. In the local market, the price of gold per tola surged by Rs2,500, reaching Rs240,500.

    Similarly, the price for 10 grammes of gold rose by Rs2,143, settling at Rs206,190, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    The international gold market also recorded gains on Monday. According to APGJSA, the international gold price stood at $2,322 per ounce, with a premium of $20, after an increase of $21 during the day.

    This marked a turnaround from the downward trend that had been observed in recent days.

    In contrast, silver prices remained stable, with the rate for silver per tola steady at Rs2,620.

    Saturday saw a dip in local gold prices, with a decrease of Rs1,600 per tola.

    The recent rebound offers some relief to investors and jewellery buyers following a week-long decline, which saw gold prices drop by a total of Rs7,000 per tola over six consecutive sessions.

    It’s worth noting that just last month, gold prices in Pakistan reached a record high, with the cost per tola hitting Rs252,200.

    The recent fluctuations in gold prices underscore the volatility of the precious metals market and highlight the impact of international trends on local rates.

  • Gold price drops for sixth consecutive session, now at Rs238,000 per tola

    Gold price drops for sixth consecutive session, now at Rs238,000 per tola

    Gold prices in Pakistan continued to fall on Saturday, marking the sixth consecutive session of declines. The price per tola (a traditional South Asian unit equivalent to about 11.66 grammes) dropped to Rs238,000, following a single-day decrease of Rs1,600.

    According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for 10 grammes of gold also fell, closing at Rs204,047 after a reduction of Rs1,257. This downward trend follows a similar drop on Friday, when the price of gold fell by Rs1,400 per tola.

    While gold prices in Pakistan declined, the international market saw an uptick in gold rates. As per APGJSA, the global price of gold reached $2,301 per ounce (with a premium of $20), registering a gain of $4 during the day.

    Despite this international increase, the domestic market in Pakistan has seen a consistent downward trend. Over the past six sessions, gold prices per tola have dropped by Rs7,000. This decline is significant, considering that just last month, gold reached an all-time high of Rs252,200 per tola in the local market.

    Meanwhile, the price of silver remained stable, with rates holding at Rs2,620 per tola.

    Analysts suggest that the local decline in gold prices may be due to various factors, including market speculation, currency fluctuations, and changes in demand. With international prices showing a slight increase, it remains to be seen whether the downward trend in Pakistan will continue or if the market will begin to stabilise.

    For now, local consumers and investors in gold are watching the market closely, anticipating potential changes in the days ahead.

  • Gold price drops by Rs1,400 to Rs239,600 per tola

    Gold price drops by Rs1,400 to Rs239,600 per tola

    The price of gold in Pakistan continued its downward trajectory for the fifth consecutive session on Friday, dropping by another Rs1,400 to settle at Rs239,600 per tola.

    This sustained decline has caught the attention of investors and consumers alike, as it indicates a significant cooling of the precious metals market in the country.

    Alongside the decline in the price per tola, the rate for 10 grammes of gold also fell, reaching Rs205,418 after a reduction of Rs1,201 from the previous session.

    This comes after gold in Pakistan had already dropped by Rs900 per tola on Thursday, signalling a broader trend of decreasing gold prices.

    The downward movement in the local gold market aligns with trends observed internationally.

    The international rate of gold decreased on Friday, with APGJSA reporting a drop of $11 per ounce, settling at $2,297 (including a premium of $20).

    This decline in the global market is likely influencing the downturn in Pakistan’s gold prices.

    Interestingly, while gold has seen consistent declines, the price of silver has remained stable, with rates holding steady at Rs2,620 per tola.

    This divergence in the precious metals market raises questions about the underlying factors driving these trends and whether the gold-silver ratio is indicative of broader shifts in market sentiment.

    In the past five sessions, the cumulative decrease in gold prices per tola in Pakistan has reached Rs5,400, marking a significant reduction from the all-time high of Rs252,200 recorded last month.

    The recent volatility has left investors cautious, with many closely monitoring the market for signs of stabilisation or further declines.

    Given the significant fluctuations in the gold market, both local and international factors are likely to play a role in determining future trends.

    The ongoing uncertainties in global economic conditions and changing investor sentiment could further impact gold prices in the coming weeks.

  • Gold prices fall for third consecutive session, dropping by Rs2,000 per tola

    Gold prices fall for third consecutive session, dropping by Rs2,000 per tola

    Gold prices in Pakistan continued their downward trend for the third consecutive session on Tuesday, mirroring the decline in international markets.

    The price per tola of gold fell by Rs2,000 to settle at Rs241,900, according to data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    In the local market, the cost of 10 grammes of gold decreased by Rs1,715, bringing the price to Rs207,390. This marks a notable reduction compared to the previous day’s loss of Rs500 per tola.

    The drop in local gold prices corresponds with a fall in the international market.

    According to the APGJSA, the global price of gold reached $2,316 per ounce, which includes a premium of $20, after a single-day decrease of $19.

    Silver prices also saw a decline, with a reduction of Rs20, bringing the price down to Rs2,630 per tola.

    Over the past three sessions, gold prices in Pakistan have fallen by Rs3,100 per tola, a significant correction from the record high of Rs252,200 per tola earlier this month.

    This continued downward trend suggests a possible easing of demand or adjustments in the international gold market.

  • Gold price drops by Rs600 per tola in Pakistan following global rate decline

    Gold price drops by Rs600 per tola in Pakistan following global rate decline

    Gold prices in Pakistan experienced a notable decrease on Saturday, mirroring a similar downward trend in international markets.

    The cost of gold per tola dropped by Rs600, settling at Rs244,400. This decline came after a recent surge in prices, adding a new dynamic to the local market’s fluctuations.

    Similarly, the price for 10 grammes of gold fell by Rs514, concluding the day at Rs209,534, according to the latest data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    These changes reflect the sensitive nature of gold prices to international trends and the inherent volatility in the market.

    Friday had seen a significant uptick in gold prices, with an increase of Rs2,500 per tola.

    This rapid shift highlights the unpredictable nature of gold valuations, influenced by a myriad of factors including global economic conditions, currency exchange rates, and market speculation.

    On the international front, gold prices also faced a downturn on Saturday, with a reported drop of $6 per ounce.

    The APGJSA noted that the international rate for gold was set at $2,337 per ounce, including a premium of $20.

    This shift in global pricing further underscores the interconnectedness of gold markets and their impact on local prices.

    While gold prices experienced a dip, silver rates remained steady, with the per tola rate holding at Rs2,650.

    The stability in silver pricing contrasts with the more volatile gold market, providing a level of consistency for those investing in precious metals.

    Just a week prior, gold prices in Pakistan had reached an all-time high, with the rate per tola hitting Rs252,200.

    The recent fluctuations are a stark reminder of the dynamic and often unpredictable nature of the precious metals market, where international trends can have a significant impact on local pricing.

  • Gold rates close week at all-time high of Rs245,100 per tola

    Gold rates close week at all-time high of Rs245,100 per tola

    Gold prices in Pakistan soared to unprecedented levels this week, surpassing previous records and reaching an all-time high, fueled by a significant surge in international rates.

    The prominent benchmark of the local gold market concluded the week at an extraordinary Rs245,100 per tola, marking a notable increase of Rs10,300 compared to the previous week’s closing figures.

    The ongoing rally in the domestic bullion market has been evident since March, during which the precious metal witnessed a substantial surge of Rs19,100, closely mirroring the upward trajectory of international gold prices.

    Notably, the preceding peak for 24-karat gold was recorded earlier in the week at Rs240,000, as documented on May 10, 2023.

    According to the Karachi Sarafa Association, the price of 24-karat gold surged to Rs210,134 per 10 grammes, registering an impressive increase of Rs8,831 week-on-week.

    Similarly, the price of 22-karat gold also experienced an upward trend, being quoted at Rs192,62 per 10 grammes.

    The remarkable ascent in gold prices underscores the dynamic nature of global economic factors impacting the precious metals market, highlighting the heightened demand and investor sentiment towards gold as a safe-haven asset amidst economic uncertainties.

  • Gold price reaches all-time high of Rs241,100 per tola

    Gold price reaches all-time high of Rs241,100 per tola

    Gold prices in Pakistan have hit a fresh record high, with the 24-karat gold reaching Rs241,100 per tola in today’s trading session. 

    This marks an increase of Rs2,200 per tola compared to the previous session’s close.

    It’s important to highlight that the previous peak for 24-K gold stood at Rs240,000, noted on May 10, 2023. 

    However, the all-time intraday high for gold has not been surpassed yet. According to the Karachi Sarafa Association, the highest intraday price recorded stands at Rs242,700.

    The current surge in domestic gold prices has been ongoing since March, with the precious metal seeing a significant increase of Rs19,100 in line with the rise in international gold prices.

    The association also reported that the price of 24-karat gold reached Rs206,704 per 10 grammes, marking an increase of Rs1,886 compared to the previous session. 

    Similarly, the price of 22-karat gold saw an uptick, reaching Rs189,480 per 10 gramme.