Tag: international market

  • Gold price jumps by Rs1,100 per tola, reaching Rs214,300

    Gold price jumps by Rs1,100 per tola, reaching Rs214,300

    The gold prices in Pakistan continued their upward trajectory, building on gains from the last session of the previous week. On Monday, the price of 24-karat gold surged by Rs1,100 per tola, reaching Rs214,300 per tola.

    According to the Karachi Sarafa Association, the price of 10-gramme 24-karat gold stood at Rs183,728, marking an increase of Rs943 compared to the previous session. Additionally, the price of 10-gramme 22-karat gold rose to Rs168,417.

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

    It is noteworthy that domestic gold ended last week in the red zone due to a decline in international prices. The ongoing uncertainty surrounding the delay in election results also failed to stimulate demand for this safe-haven asset.

    Internationally, spot gold has extended its rally for the third consecutive session, currently trading at $2,021.8. This rebound follows last week’s release of hotter-than-anticipated US inflation data, which initially pushed gold below the $2,000 mark for the first time in two months.

    Given the influence of domestic currency fluctuations on the domestic gold rate, it is crucial to mention that the Pakistani rupee (PKR) concluded its 13-week-long historic winning streak against the US dollar. Last week, the PKR experienced a marginal drop of 8 paisa.

    Since gold is denominated in US dollars, a depreciation of the PKR against the US dollar results in an increase in the value of PKR-denominated gold. The market remains attentive to both global and domestic factors influencing these shifts in precious metal prices.

  • Gold price sees Rs1,700 per tola dip on last trading day

    Gold price sees Rs1,700 per tola dip on last trading day

    In the final trading session of the week, the per-tola price of 24 karat gold in Pakistan witnessed a notable decrease, sliding by Rs1,700. The precious metal was traded at Rs216,000, compared to its previous rate of Rs217,700.

    Similarly, the price of 10 grammes of 24 karat gold experienced a decline of Rs1,458, settling at Rs185, as opposed to its earlier value of Rs186,643.

    Meanwhile, the prices of 10 grammes of 22-karat gold also observed a dip, reaching Rs169,753 from Rs171,089, according to a report by the All Sindh Sarafa Jewellers Association.

    The per-tola and ten-gramme silver prices remained unchanged, standing at Rs2,600 and Rs2,229.08, respectively.

    On the global front, the price of gold faced a decrease of $15 in the international market, falling to $2,059 from its previous value of $2,074, as reported by the Association.

    These fluctuations in the precious metals market highlight the dynamic nature of the economic landscape, influencing both domestic and international trade.

    Investors and consumers alike are keeping a close eye on these developments as they navigate the ever-changing market conditions.

  • Gold price drops by Rs2,000 per tola to Rs215,300

    Gold price drops by Rs2,000 per tola to Rs215,300

    On Wednesday, the domestic bullion market experienced a notable decline, influenced by a drop in international prices. 

    In Pakistan, the price of 24-karat gold plunged by Rs2,000 per tola, reaching Rs215,300.

    The Karachi Sarafa Association reported a decrease of Rs1,715 in the price of 10-gramme 24-karat gold, standing at  Rs184,585. 

    Additionally, the price of 10-gramme 22-karat gold dipped to Rs169,203 compared to Rs170,775 on Tuesday.

    Silver prices also witnessed a downturn in the domestic market, with 24-karat silver selling at Rs2,600 per tola and Rs2,229.08 per 10-gramme, reflecting declines of Rs50 per tola and Rs 42.86 per 10-gramme, respectively.

    On the global stage, international spot gold experienced a $6, or 0.31 per cent, decrease, currently trading at $2,021.77 [02:46 pm PST]. 

    This follows a $26 or 1.27 per cent decline yesterday, contributing to the overall impact on the domestic bullion market.

  • Gold prices dip in Pakistan: 24-carat gold settles at Rs217,300 per tola

    Gold prices dip in Pakistan: 24-carat gold settles at Rs217,300 per tola

    The domestic price of gold witnessed a decline, particularly impacting 24-karat gold in Pakistan, which dropped by Rs600 per tola to reach Rs217,300.

    According to the Karachi Sarafa Association, the price for 10 grammes of 24-karat gold was reported at Rs186,300, marking an increase of Rs514.

    The price for 10 grammes of 22-karat gold was Rs170,775 during this period.

    In contrast, silver remained steady in the local market, with 24-karat silver being traded at Rs2,650 per tola and Rs2,271.94 per 10 grammes.

    Internationally, the spot price of gold experienced a decline of $15, or 0.74%, reaching $2,039. It’s noteworthy that, at the time of the Karachi Sarafa Association’s report, the international spot rate had decreased by $8.

    It’s worth mentioning that 24-karat gold in Pakistan has observed a decline for the second consecutive week, as reported in the previous week.

  • Gold price in Pakistan witnesses marginal increase of Rs200 per tola

    Gold price in Pakistan witnesses marginal increase of Rs200 per tola

    On Thursday, the domestic market witnessed a rise in the per tola rate of 24 karat gold, with an increment of Rs200. 

    According to the All Sindh Sarafa Jewellers Association, the price for 10 grammes of 24 karat gold also surged by Rs200, reaching Rs216,300.

    Additionally, both the per tola and 10-gramme silver prices experienced an increase of Rs171, reaching Rs185,442.

    Internationally, the cost of gold rose by $5, reaching $2052. At 0942 GMT, spot gold exhibited a 0.4 per cent increase, reaching $2,031.83 per ounce.

    Simultaneously, US gold futures demonstrated a 0.4 per cent rise, reaching $2,036.60.

    In other markets, silver saw a 0.6 per cent increase, reaching $23.01 per ounce, palladium gained 0.9 per cent, reaching $1,007.80, and platinum exhibited a 0.2 per cent rise, reaching $920.58.

  • Gold price increases Rs300 per tola to Rs216,400

    Gold price increases Rs300 per tola to Rs216,400

    Gold rates in Pakistan witnessed a notable upswing on Tuesday, aligning with the international market trend.

    The precious metal was quoted at Rs216,400 per tola in the local market, marking a substantial increase of Rs300 within the day.

    According to data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold price reached Rs185,528 after experiencing a rise of Rs257 on the same day.

    This surge in gold prices follows a recent decline on Tuesday, where the yellow metal in Pakistan had seen a decrease of Rs1,900 per tola.

    The international gold rate, with a $20 premium, stood at $2,050 per ounce on Tuesday, marking an increase of $3 in the global market, as reported by the APGJSA.

    Meanwhile, silver rates maintained stability in the local market at Rs2,660 per tola on the same day, indicating a lack of significant fluctuations in silver prices.

    Market analysts are attributing the rise in gold rates in Pakistan to the positive movement in the global market, emphasising the impact of international factors on the local precious metals landscape.

    Investors and traders are closely monitoring these fluctuations as they evaluate their investment strategies in the backdrop of the dynamic economic environment.

  • Gold price in Pakistan goes up by Rs1,600 per tola

    Gold price in Pakistan goes up by Rs1,600 per tola

    On Tuesday, gold prices in Pakistan experienced a notable surge, aligning with the upward trend in the global market.

    The precious metal reached a valuation of Rs221,300 per tola in the domestic market, marking a substantial gain of Rs1,600 throughout the day.

    As reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold was traded at Rs189,729 after witnessing an increase of Rs1,372. This movement follows a Rs300 decrease per tola in gold prices on the preceding Monday.

    In the international arena, gold exhibited a rise of $12 on Tuesday, reaching $2,094 per ounce with an additional premium of $20, as communicated by APGJSA.

    Conversely, silver maintained stability at Rs2,680 per tola in the local market amidst these fluctuations in gold prices.

  • Gold price in Pakistan settles at Rs216,800 per tola

    Gold price in Pakistan settles at Rs216,800 per tola

    In a noteworthy shift, the per-tola price of 24 karat gold witnessed a decrease of Rs1,800, settling at Rs216,800 on Saturday.

    This marks a discernible drop from its previous standing of Rs218,600 during the last trading day.

    Similarly, the cost of 10 grammes of 24 karat gold experienced a dip of Rs1,543, now standing at Rs185,871 as opposed to its previous valuation of Rs187,414.

    Meanwhile, the prices of 10 grammes of 22-karat gold also exhibited a downward trend, reaching Rs170,382 from Rs171,796, as reported by the All Sindh Sarafa Jewellers Association.

    Contrastingly, the prices of silver remained unchanged, with per tola and ten gramme silver holding steady at Rs2,670 and Rs2,289.09, respectively.

    Taking a broader perspective, the international gold market saw a decline as well, with the price of gold dropping by $15 to $2,040 from its previous position at $2,055, according to the latest report from the Association.

    This shift in the precious metals market has sparked interest and attention within financial circles.

  • Gold price in Pakistan drops to Rs215,400 per tola 

    Gold price in Pakistan drops to Rs215,400 per tola 

    The price of 24-karat gold per tola witnessed a decrease of Rs200, settling at Rs215,400 on Monday. This marked a decline from its previous closing at Rs215,600 on the last trading day.  

    Simultaneously, the cost of 10 grammes of 24-karat gold saw a reduction of Rs171, reaching Rs184,671 from its earlier value of Rs184,842.  

    In the case of 10 grammes of 22-karat gold, the price dropped to Rs169,282 from Rs169,439, as reported by the All Sindh Sarafa Jewellers Association. 

    The rates for silver, however, remained unchanged, with the per-tola and ten-gramme prices standing at Rs2,600 and Rs2,229.08, respectively.  

    Additionally, in the international market, the cost of gold experienced a $6 decrease, reaching $2,018 from $2,024, according to the Association. 

    Meanwhile, the recent trend of the Pakistani rupee’s appreciation against the US dollar came to a halt as the currency witnessed a marginal 0.01 per cent dip in the interbank market on Monday.  

    The State Bank of Pakistan (SBP) reported that the rupee settled at 283.90, reflecting a decrease of Re0.03. 

  • 24 karat gold price drops by Rs3,000 per tola 

    24 karat gold price drops by Rs3,000 per tola 

    On Saturday, the price of 24 karat gold per tola experienced a decrease of Rs3,000, reaching Rs215,600 as compared to its previous value of Rs218,600 on the last trading day. 

    Similarly, the cost of 10 grammes of 24 karat gold saw a decline of Rs2,572, settling at Rs184,842 from its earlier rate of Rs187,414. 

    The price of 10 grammes of 22-karat gold also decreased, falling to Rs169,439 from Rs171,786, according to the All Sindh Sarafa Jewellers Association. 

    Meanwhile, the prices of silver remained unchanged, with per tola and ten grammes priced at Rs. 2,600 and Rs2,229.08, respectively. 

    In the international market, the cost of gold experienced a drop of $26, reaching $2,024 from its previous value of $2,050, as reported by the Association.