Tag: gold price

  • Gold price decreases Rs500 per tola to Rs275,500 in local market

    Gold price decreases Rs500 per tola to Rs275,500 in local market

    Gold price in Pakistan continued to decline on first trading day of the week mirroring the decrease in global rates.

    In Pakistani bullion market, the price of one tola of 24-karat gold was recorded at Rs275,500, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). It is worth noting that this price is Rs500 down from the Saturday’s closing rate of Rs276,000 per tola.

    The price for ten-gramme-gold also dropped by Rs428 to Rs236,197.

    On Saturday, gold price was recorded Rs700 per tola down from the previous closing.

    Interestingly, silver prices remained unchanged for another day at Rs3,050 per tola in local market.

    Gold prices in the last week were seen at record peak of Rs277,000 per tola before witnessing three consecutive days of decline.

    Moreover, the gold price in international bullion market were recorded approximately $4 down, clocking in at $2,653 per ounce. This rate also includes a premium of $20.

  • Gold price climbs to new record high of Rs275,500 per tola following Rs2,500 increase

    Gold price climbs to new record high of Rs275,500 per tola following Rs2,500 increase

    Bullion prices in Pakistan continued to climb on the  third trading day of the week as the rate for 24-karat gold was recorded Rs2,500 per tola higher than the previous closing.

    According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in local market was reported at Rs275,500 per tola.

    The latest price of gold is the highest ever rate recorded for the precious metial in Pakistan’s history.

    Furthermore, the price of ten grammes of gold was quoted by APGJSA at Rs236,197 after a rise of Rs2,144 in today’s session.

    This follows a surge in yellow metal’s value witnessed in the international market. According to APGJSA, gold price in the global market increased by $25 on Wednesday, clocking in at $2,653 per ounce. This rate also includes a premium of $20.

    Gold price in Pakistan has increased by more than Rs50,000 per tola this year due to fluctuations in the international market.

  • Gold price drops by Rs600 from record high to Rs271,900 per tola

    Gold price drops by Rs600 from record high to Rs271,900 per tola

    Gold prices in Pakistan dropped after hitting record high in the previous session.

    On first trading day of the week, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold fell by Rs600 and closed at Rs271,900 per tola.

    The price of 10-gramme of gold was recorded at Rs233,110 after sliding by Rs471.

    It is worth mentioning that the gold price in the last two trading sessions jumped by Rs4,000 per tola.

    The last gold rate before Monday’s closing was Rs272,500 per tola.

    Furthermore, silver prices were unchanged once again, clocking in at Rs2,950 per tola.

    The price of gold in the global market also witnessed a loss of $5 during the day and was recorded at $2,617 per ounce. This price also includes a premium of $20.

  • Highest price in Pakistan’s history: Gold rate climbs to Rs268,000 per tola

    Highest price in Pakistan’s history: Gold rate climbs to Rs268,000 per tola

    24-karat gold price, on first trading day of the week, resumed its record high run and surged by Rs1,700 per tola after an increase in global bullion rates.

    The recent surge in yellow metal’s price has pushed the gold rate to Rs268,000 per tola, which is the highest price ever recorded for the precious metal in the history of Pakistan.

    It is worth noting that in the previous session, gold price in the local market rose by Rs400 per tola and settled the day at Rs266,300 per tola, which was the record high rate at the time for yellow metal in the country.

    On the other hand, the global rate of gold also climbed on Monday as the per ounce price was quoted at $2,587, including a premium of $20, reflecting an increase of $10.

    More to follow..

  • Gold price climbs Rs2,000 to Rs262,100 per tola after two consecutive declines

    Gold price climbs Rs2,000 to Rs262,100 per tola after two consecutive declines

    Gold prices in Pakistan saw a significant rise on Thursday, with the rate of 24-karat gold increasing by Rs2,000, reaching Rs262,100 per tola, according to the Karachi Sarafa Association.

    The price for 10 grammes of 24-karat gold also climbed, standing at Rs224,708, an increase of Rs1,714.

    Meanwhile, 22-karat gold was priced higher at Rs205,983 per 10 grammes, reflecting the overall upward trend in the market.

    In contrast, silver prices remained stable, with 24-karat silver holding steady at Rs2,900 per tola and Rs2,486 per 10 grammes.

    On the international market, spot gold traded at $2,504 per ounce, marking an increase of $8.9, or 0.36 per cent, from the previous session.

  • 24-karat gold price increases by Rs1,600 to Rs242,900 per tola in Pakistan

    24-karat gold price increases by Rs1,600 to Rs242,900 per tola in Pakistan

    The price of gold in Pakistan saw a significant increase on Friday, with 24-karat gold reaching Rs242,900 per tola, marking a rise of Rs1,600 per tola. Despite this increase, the price is notably Rs4,500 below its actual cost due to a decline in purchasing power.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes rose to Rs208,248, an increase of Rs1,372. Similarly, 22-karat gold prices also saw a hike, reaching Rs190,894 per 10 grammes.

    In contrast, silver prices remained stable in the domestic market. The price of 24-karat silver stood at Rs2,750 per tola and Rs2,358 per 10 grammes.

    On the global market, spot gold was trading near $2,364 an ounce, a modest increase of $3.9 or 0.17 per cent from the previous session. The precious metal is poised for a second consecutive weekly gain, bolstered by softer U.S. economic data that has fueled investor optimism about potential monetary easing.

    Thursday’s data showed a moderate decline in first-time applications for U.S. unemployment benefits last week, coupled with a drop in new housing construction. Additionally, retail sales data from the previous month were tepid, all of which have increased the likelihood of a rate cut in September, according to Reuters.

    Lower interest rates tend to reduce the opportunity cost of holding non-yielding bullion, making gold a more attractive investment. Meanwhile, China’s yuan fell to a fresh seven-month low against the dollar, further influencing the global economic landscape.

  • Gold price rebounds by Rs2,400 to Rs243,000 per tola

    Gold price rebounds by Rs2,400 to Rs243,000 per tola

    In a notable shift, gold prices in Pakistan surged significantly on Thursday, aligning with an upward trend in international markets.

    The local price of gold per tola (approximately 11.66 grammes) climbed to Rs243,000, marking a substantial single-day increase of Rs2,400.

    Similarly, the price of 10 grammes of gold rose by Rs2,057, reaching Rs208,333. These figures were reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This surge follows a minor decline on Wednesday, when the gold price per tola in Pakistan decreased by Rs400.

    Contrary to the local market trend, the international gold price witnessed a decrease on Thursday.

    According to the APGJSA, the international rate settled at $2,362 per ounce, inclusive of a $20 premium, after experiencing a $30 drop during the day.

    In contrast, silver prices remained stable, with the rate fixed at Rs2,800 per tola.

    It’s noteworthy that back in April, the price of gold in the local market reached an all-time high of Rs252,200 per tola, highlighting the volatility and significant fluctuations in the precious metals market.

  • 24-karat gold price drops by Rs1,500 to Rs241,200 per tola

    24-karat gold price drops by Rs1,500 to Rs241,200 per tola

    On Thursday, gold prices in Pakistan saw a significant decline, with the cost of 24-karat gold dropping by Rs1,500 to settle at Rs241,200 per tola.

    This decrease is noteworthy as the current price is kept Rs3,000 below its actual value, reflecting reduced purchasing power among consumers.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes fell by Rs1,286 to Rs206,790. Similarly, the price of 22-karat gold decreased, now quoted at Rs189,558 per 10 grammes.

    In contrast, silver prices remained stable. The price for 24-karat silver was unchanged at Rs2,900 per tola and Rs2,486.28 per 10 grammes.

    On the international market, spot gold was trading near $2,333 an ounce, marking a 0.22 per cent decline from the previous session. This downturn is largely influenced by investor sentiments regarding the potential for U.S. interest rate cuts.

    A key inflation report due later in the week has added to the market’s cautious outlook.

    Recent minutes from the Federal Reserve’s policy meeting indicated a commitment to maintaining higher interest rates for an extended period to combat persistent inflation.

    This policy stance is seen as bearish for gold, as higher interest rates increase the opportunity cost of holding non-yielding assets like gold, reducing its appeal.

    As economic conditions remain volatile, both local and international gold markets continue to respond to shifts in monetary policy and consumer demand.

  • 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 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.