Tag: gold price

  • Gold price in Pakistan dips by Rs1,200 per tola

    Gold price in Pakistan dips by Rs1,200 per tola

    Gold prices in Pakistan witnessed a decline on Monday, mirroring the downward trend in the international market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market saw a decrease in the price of gold per tola by Rs1,200, settling at Rs242,300 after a single-day fall.

    Similarly, the price of 10 grammes of gold dropped to Rs207,733, marking a decrease of Rs943, as reported by APGJSA.

    The international gold rate, as per APGJSA figures, was set at $2,349 per ounce, with a $20 premium, experiencing a $10 decrease during the day.

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

    The recent decline comes after gold reached a record high of Rs252,200 per tola in the local market last month. Notably, on Saturday, gold prices in Pakistan had decreased by Rs300 per tola.

    The fluctuation in gold prices reflects the ongoing dynamics in both domestic and global markets, impacting investors and consumers alike.

  • Gold price in Pakistan falls to Rs243,500 per tola reflecting global decline

    Gold price in Pakistan falls to Rs243,500 per tola reflecting global decline

    Gold prices in Pakistan saw a decline on Saturday, mirroring the downward trend observed in the global market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market recorded a drop of Rs300 per tola, bringing the price to Rs243,500.

    For 10 grammes of gold, the price fell by Rs257, reaching Rs208,762, based on the rates shared by APGJSA.

    Internationally, the price of gold also experienced a decline on Saturday. APGJSA reported that the rate settled at $2,359 per ounce, with an additional premium of $20, marking a decrease of $7 throughout the day.

    In contrast, silver rates remained unchanged at Rs2,650 per tola.

    This decrease comes after a significant increase on Friday, where gold prices in Pakistan surged by Rs4,600 per tola.

    It’s noteworthy that just last month, gold reached an unprecedented high of Rs252,200 per tola in the Pakistani gold market, highlighting the volatility of precious metal prices in recent times.

  • 24-karat gold price remains unchanged at Rs239,200 per tola in local market

    24-karat gold price remains unchanged at Rs239,200 per tola in local market

    Gold prices in Pakistan held steady on Thursday, following two consecutive days of decline. The price for 24-karat gold was set at Rs239,200 per tola, unchanged from the previous session.

    In the last week, the price of 24-karat gold fell by Rs6,400 per tola, contributing to a cumulative loss of Rs14,200 per tola, or 5.63 per cent, over the past two weeks.

    According to the Karachi Sarafa Association, the price for 10 grammes of 24-karat gold remained at Rs205,075, while the price for 10 grammes of 22-karat gold stood at Rs187,986.

    Silver prices also remained steady in the domestic market, with 24-karat silver priced at Rs2,620 per tola and Rs2,254.8 per 10 grammes.

    Globally, the spot price of gold inched slightly downward. International spot gold was trading near $2,308.14 an ounce, down by 0.03 per cent compared to the previous trading session.

  • 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.

  • Local gold price rises by Rs2,500, reaching Rs245,000 per tola

    Local gold price rises by Rs2,500, reaching Rs245,000 per tola

    Gold prices in Pakistan increased on Friday, reflecting a similar upward trend in the international markets.

    The price per tola (approximately 11.66 grammes) of gold reached Rs245,000, marking a single-day increase of Rs2,500. This comes after a modest gain of Rs500 on Thursday.

    The rates for 10 grammes of gold also saw a significant uptick, reaching Rs210,048 following a rise of Rs2,143, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This surge in local prices corresponds with a jump in international gold prices, which rose by $21 per ounce to settle at $2,343 (including a premium of $20) on Friday.

    Despite these increases in gold prices, silver rates remained unchanged, with the price per tola staying steady at Rs2,650.

    The recent volatility in gold prices underscores the impact of international market trends on the local Pakistani market.

    Last week, the price of gold reached an all-time high in Pakistan, with a tola selling for Rs252,200.

    The fluctuations in precious metal prices are closely monitored by investors and consumers alike, as they reflect broader economic trends and market sentiments.

    For gold traders and investors in Pakistan, these price shifts suggest a continuing trend of fluctuation, likely influenced by global economic factors and investor demand.

    The APGJSA will continue to provide updates on market trends and price changes as they occur.

  • Gold price drops by Rs500 to Rs237,100 per tola

    Gold price drops by Rs500 to Rs237,100 per tola

    The local bullion market saw a downturn in its rally on Tuesday, with the price of 24-karat gold dropping by Rs500 per tola to Rs237,100.

    This decline comes after a significant increase of Rs19,100 in March, aligning with the upward trend in international gold prices.

    According to the Karachi Sarafa Association, the price of 24-karat gold stood at Rs203,275 per 10-gramme, marking a decrease of Rs429 compared to the previous session. Similarly, the price of 22-karat gold was quoted lower at Rs186,335 per 10-gramme.

    Meanwhile, silver prices remained steady, with 24-karat silver being sold at Rs2,600 per tola and Rs2,211.93 per 10-gramme.

    In the global market, international spot gold continued its upward trajectory, reaching a new peak amid moderated US inflation data.

    Gold prices surged to $2,261.03 an ounce on Tuesday, reflecting a 0.42 per cent increase from the previous day’s close.

    The US core personal consumption expenditures (PCE) index showed a cooling trend in February, with a month-on-month increase of 0.3 per cent and a year-on-year increase of 2.8 per cent.

    Federal Reserve Chair Jerome Powell, addressing concerns about inflation, stated that the recent data did not alter the central bank’s fundamental outlook.

    However, he stressed that with the economy showing strength, there was no rush to adjust monetary policy.

    Looking ahead, traders are keeping a close watch on Friday’s release of the US nonfarm payrolls report. Another robust jobs report could potentially trigger a pullback in gold prices, as highlighted by Waterer.