Tag: Gold price in Pakistan

  • Gold prices continue to surge, per tola rate hits Rs237,600

    Gold prices continue to surge, per tola rate hits Rs237,600

    Gold prices in Pakistan saw a sustained uptrend on the first trading day of the month, following a surge in the global market.

    The precious metal achieved a fresh record high internationally, reflecting its continued allure among investors.

    In Pakistan, the price per tola of gold reached Rs237,600, marking an increase of Rs2,800 throughout the day.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for 10 grammes of gold stood at Rs203,704, showing a rise of Rs2,401 compared to previous figures.

    Notably, gold prices had remained relatively stable at Rs234,800 per tola just two days prior, underscoring the recent market volatility.

    In contrast, silver rates remained steady at Rs2,600 per tola during the same period.

    Over the past seven sessions, gold has witnessed a notable increase of Rs9,400 per tola in the local market, reflecting strong investor sentiment and demand.

    Meanwhile, in the international arena, gold commanded a premium of $20, reaching an unprecedented high of $2,278 per ounce on Friday.

    This marked a $24 increase from previous levels, as highlighted by APGJSA. The surge in global prices further underscores the precious metal’s status as a safe-haven asset amidst economic uncertainties.

  • Gold price increases by Rs3,800 per tola

    Gold price increases by Rs3,800 per tola

    Gold prices in Pakistan surged further on Friday, propelled by a remarkable surge in the global market.

    The price of gold per tola soared to an unprecedented level, hitting Rs234,800 in local markets after witnessing a substantial gain of Rs3,800 within the span of a single day.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for 10 grammes of gold stood at Rs201,303, marking a notable increase of Rs3,258 from the previous day’s rates.

    Thursday had already seen a significant uptick in gold prices in Pakistan, with an increase of Rs1,500 per tola.

    Meanwhile, the international gold market witnessed a similar trend, with gold rates surging to a historic high of $2,254 per ounce.

    This marked a substantial gain of $40, accompanied by a $20 premium. APGJSA reported these figures, underscoring the remarkable momentum in the global gold market.

    In parallel, silver prices also experienced an upward trajectory, rising by Rs20 to reach Rs2,600 per tola, further highlighting the general bullish sentiment in precious metal markets.

  • 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 reverse previous day’s gains with Rs4,200 per tola drop

    Gold prices reverse previous day’s gains with Rs4,200 per tola drop

    Gold prices experienced a downturn in the domestic market on Friday, aligning with the global trend.

    The price of 24-karat gold dropped by Rs4,200 to reach Rs228,200 per tola, reflecting fluctuations in international gold prices.

    Notably, the previous day saw a significant increase of Rs4,600 per tola in gold prices in Pakistan.

    According to the Karachi Sarafa Association, the price of 24-karat gold per 10 grammes fell to Rs195,645, marking a decrease of Rs3,600.

    Similarly, the price of 22-karat gold also saw a decline, reaching Rs179,341 per 10 grammes.

    In addition to gold, silver prices also saw a decrease. 24-karat silver was sold at Rs2,580 per tola and Rs2,211.93 per 10 grammes, indicating a decrease of Rs20 per tola and Rs17.15 per 10 grammes, respectively.

    Internationally, spot gold prices retreated after reaching a milestone of over $2,200 an ounce for the first time.

    This drop followed the Federal Reserve’s indication of maintaining its trajectory for three interest-rate cuts this year. Spot gold traded near $2,166.81, showing a decrease of $14.65 or 0.68 per cent for the day.

    The correction in gold prices was influenced by the strengthening of the dollar, which rose by 0.8 per cent after hitting a one-week low.

  • Gold price increases by Rs500 to Rs227,800 per tola

    Gold price increases by Rs500 to Rs227,800 per tola

    Gold prices in the domestic market showed a slight uptick on Wednesday. The value of 24-karat gold rose by Rs500 to reach Rs227,800 per tola, according to the Karachi Sarafa Association.

    For smaller quantities, the price of 24-karat gold per 10 grammes climbed to Rs195,302, marking an increase of Rs429. Meanwhile, 22-karat gold saw a similar trend, reaching Rs179,027 per 10 grammes.

    In contrast, silver prices remained stable, with 24-karat silver being traded at Rs2,580 per tola and Rs2,211.93 per 10 grammes.

    Last week, 24-karat gold saw a reversal from its two-week upward trend, registering a loss of Rs2,700 per tola.

    On the global scale, international spot gold hovered around $2,155.8 an ounce, experiencing a marginal decline of 0.08 per cent compared to the previous session.

    Investors are eagerly awaiting the policy decision from the US Federal Reserve later today, with prevailing expectations leaning towards the Fed maintaining its current stance.

  • 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.

  • 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.

  • Gold price increases by Rs700 to Rs215,800 per tola

    Gold price increases by Rs700 to Rs215,800 per tola

    In a notable shift in the precious metals market, the price of 24-karat gold in Pakistan exhibited an increase of Rs700 per tola, reaching Rs215,800 on Monday.

    This surge follows the closing price of Rs215,100 on the last trading day, Saturday.

    The price adjustment was not exclusive to tola measurements; the cost of 10 grammes of 24-karat gold also experienced an uptick, rising by Rs600 to Rs185,014 from its previous value of Rs184,414.

    Similarly, 22-karat gold saw an increase in its 10-gramme price, climbing to Rs169,596 from Rs169,046, as reported by the All Sindh Sarafa Jewellers Association.

    Contrary to the movement in gold prices, the rates for silver remained consistent. The cost of one tola and ten grammes of silver held steady at Rs2,570 and Rs2,203.36, respectively.

    Internationally, the gold market displayed a contrasting trend, witnessing a decrease of $02, with the new rate standing at $2,054, down from $2,056, according to the association’s findings.

    Meanwhile, the Pakistan Stock Exchange (PSX) recorded a week of positive trends and increased business activities. Investors demonstrated optimism regarding political stability following the general elections on February 8.

    As the business week concluded, the KSE-100 index closed at an impressive 62,815 points, reflecting a gain of 2,943 points, or 4.92 per cent.

    The index had reached its peak during the week, showcasing investor confidence in the anticipated political stability post-elections.

  • Gold price plummets by Rs3,500 to Rs210,800 per tola in Pakistan

    Gold price plummets by Rs3,500 to Rs210,800 per tola in Pakistan

    In a significant market development, the price of 24-karat gold in the local bullion market took a sharp nosedive, plummeting by Rs3,500 to Rs210,800 per tola. 

    This dramatic downturn comes in the wake of hotter-than-expected US inflation data, which has sparked speculation that the Federal Reserve may delay anticipated rate cuts.

    According to the Karachi Sarafa Association, the price of 10-gramme 24-karat gold saw a notable decline, settling at Rs180,727, marking a loss of Rs3,001 compared to the previous session. Similarly, the price of 10-gramme 22-karat gold fell to Rs165,666.

    The downward trend extended to silver prices as well, with 24-karat silver being sold at Rs2,580 per tola, showing a decrease of Rs20 day-over-day. The 10-gramme silver price also experienced a dip, dropping by Rs17.15 to Rs2,211.93.

    On the global stage, international spot gold slipped below $2,000 for the first time in two months, experiencing a 1.34 per cent decline or $27. 

    This shift follows the release of American Consumer Price Index (CPI) data, which disappointed investors after a recent downturn in price pressures had fostered expectations for rate cuts this year, as reported by Bloomberg.

    Federal Reserve Chairman Jerome Powell’s cautious stance, echoed by other Fed speakers, gained credence in light of the CPI figures. 

    Swap contracts referencing Fed policy meetings, which previously indicated a high likelihood of a rate cut in May and substantial easing by year-end, were significantly affected. 

    The odds of a May cut dropped to about 32 per cent from 64 per cent prior to the inflation data, with expectations for fewer than 90 basis points of easing this year.

  • Gold price remains steady at Rs214,300 per tola with no fluctuations

    Gold price remains steady at Rs214,300 per tola with no fluctuations

    The cost of 24-karat gold in the local bullion market remained unchanged at Rs214,300 per tola on Tuesday, according to the Karachi Sarafa Association. 

    Similarly, the prices for both 10-gramme 24-karat and 22-karat gold stood at Rs183,728 and Rs168,416, respectively. 

    Last week, a decline in international prices led to a Rs1,700 drop in the domestic market for 24-karat gold per tola.

    Silver prices also maintained stability in the domestic market, with 24-karat silver selling at Rs2,600 per tola and Rs2,229.08 per 10 grammes. Meanwhile, on the global stage, international spot gold traded near $2,025.7 as of 12:50 pm, marking a 0.35 per cent increase for the day.

    Investors are closely watching for the release of crucial US inflation data later today, which may provide further insight into the timing of the Federal Reserve’s potential interest rate adjustments.