Tag: latest gold price

  • 24 karat gold price increases by Rs500 to Rs242,000 per tola in local market

    24 karat gold price increases by Rs500 to Rs242,000 per tola in local market

    The price of gold surged in the local market on Monday, with the rate for per tola (11.66 grammes) of 24 karat gold increasing by Rs500 to reach Rs242,000, as reported by the All Sindh Sarafa Jewellers Association. This marks a rise from its previous closing price of Rs241,500.

    Similarly, the price of 10 grammes of 24 karat gold rose by Rs429 to Rs207,476 from Rs207,047. Meanwhile, 10 grammes of 22 karat gold also saw an uptick, climbing to Rs190,186 from Rs189,793.

    According to the association, the prices of per tola and 10 grammes of silver remained unchanged at Rs2,850 and Rs2,443.41 respectively.

    Internationally, the price of gold saw a modest increase of $8 to $2,328 per ounce from $2,320, reflecting a positive trend in global markets.

    Over the weekend, gold prices in Pakistan had dipped, aligning with a downturn in the international market. The All Pakistan Gems and Jewellers Sarafa Association reported that on Saturday, the price per tola had decreased to Rs241,500, following a single-day decline of Rs1,400.

    Earlier this year in April, gold prices had reached an all-time high of Rs252,200 per tola in the local market, underscoring the volatility influenced by global market dynamics.

    The fluctuations in gold prices are predominantly driven by shifts in the international market, which are influenced by changes in global demand and supply for the precious metal.

  • Gold price drops by Rs1,400 to Rs241,500 per tola

    Gold price drops by Rs1,400 to Rs241,500 per tola

    In a significant turn of events, gold prices in Pakistan fell on Saturday, aligning with a downward trend in the international market.

    The price of gold per tola dropped by Rs1,400, settling at Rs241,500, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    Similarly, the price of 10 grammes of gold decreased by Rs1,201, reaching Rs207,047. This decline follows a notable rise on Friday when the price per tola had surged by Rs1,600 to hit Rs242,900.

    On the international stage, gold prices also saw a decline on Saturday. According to the APGJSA, the international rate was set at $2,320 per ounce, including a $20 premium, after experiencing a $43 drop during the day.

    Contrarily, silver prices showed an upward trend in the local market, increasing by Rs100 to reach Rs2,850 per tola.

    It is noteworthy that gold prices had previously peaked in April, hitting an all-time high of Rs252,200 per tola in Pakistan.

    The recent fluctuations highlight the ongoing volatility in both local and international precious metals markets.

  • 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 drops by Rs1,200 per tola to Rs240,700

    Gold price drops by Rs1,200 per tola to Rs240,700

    In a significant shift on Thursday, gold prices in Pakistan witnessed a notable decrease. The price of 24-karat gold fell by Rs1,200 per tola, bringing it to Rs240,700 per tola.

    This reduction reflects the ongoing challenges in purchasing power, with the price being set Rs1,500 below its actual market value.

    The Karachi Sarafa Association reported that the price for 24-karat gold was Rs206,361 per 10 grammes, a decrease of Rs1,029. Meanwhile, 22-karat gold was quoted at Rs189,165 per 10 grammes, reflecting a similar downward trend.

    In contrast, silver prices remained stable in the domestic market. The price of 24-karat silver held steady at Rs2,750 per tola and Rs2,358 per 10 grammes, indicating no change from previous rates.

    Globally, the gold market also experienced a decline. Spot gold was traded near $2,305 an ounce, marking a decrease of $15.5 or 0.67 per cent from the previous session. This downturn follows a report indicating that the US core consumer price index fell to its lowest level in over three years, suggesting a potential for faster policy easing.

    Bloomberg reported that the Federal Reserve has adjusted its expectations, now projecting just one quarter-point interest rate cut this year, down from the three cuts anticipated in March.

    Swap traders are currently pricing in a 25-basis-point rate cut by November, with a 75 per cent probability of a similar reduction by year-end.

    This is a shift from the 50 per cent chance of a second cut that was forecasted two days prior. US producer prices, expected to be released later on Thursday, may provide further indications of market trends.

    Overall, the drop in gold prices reflects both domestic economic pressures and global market adjustments, offering a complex landscape for investors and consumers alike.

  • Gold price surges by Rs600 to Rs241,900 per tola

    Gold price surges by Rs600 to Rs241,900 per tola

    The price of gold in Pakistan saw a notable increase on Wednesday, with 24-karat gold reaching Rs241,900 per tola, marking a rise of Rs600 per tola.

    According to the Karachi Sarafa Association, the price of 24-karat gold per 10 grammes also climbed, now standing at Rs207,390, an increase of Rs514.

    Similarly, 22-karat gold experienced a price hike, with the new rate quoted at Rs190,108 per 10 grammes. In contrast, silver prices remained stable in the domestic market. The price of 24-karat silver held steady at Rs2,750 per tola and Rs2,358 per 10 grammes.

    On the international stage, spot gold traded near $2,314 per ounce, showing little change from the previous session. Investors are keeping a close watch on the upcoming US inflation data, which is set to be released just hours before the Federal Reserve’s decision on interest rates today.

    This data could significantly influence gold prices, as any shifts in interest rates may impact investor sentiment and demand for precious metals.

    The recent surge in gold prices in Pakistan reflects the broader global economic uncertainties and the anticipation of key economic indicators that could sway the market in the coming days.

  • Gold price in Pakistan drops by Rs400 per tola despite global surge

    Gold price in Pakistan drops by Rs400 per tola despite global surge

    On Wednesday, the price of gold in Pakistan saw a decrease, with 24-karat gold being sold at Rs240,600 per tola, marking a Rs400 drop per tola. This decline in gold prices reflects a broader trend tied to the reduced purchasing power of consumers.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes also fell, reaching Rs206,276, a decrease of Rs343. Similarly, 22-karat gold experienced a drop, now priced at Rs189,086 per 10 grammes.

    While gold prices declined, silver prices remained stable in the domestic market. The price of 24-karat silver stood unchanged at Rs2,820 per tola and Rs2,418 per 10 grammes.

    On the international stage, spot gold traded near $2,331 an ounce, a modest increase of $2.5 or 0.11 per cent from the previous session, reflecting the dynamic nature of global precious metal markets.

    The sustained decrease in local gold prices, despite global fluctuations, underscores the economic challenges faced by consumers in Pakistan, influencing their ability to invest in gold.

  • Gold rate remains unchanged at Rs240,300 per tola

    Gold rate remains unchanged at Rs240,300 per tola

    Gold prices in Pakistan remained unchanged on Monday, mirroring stability in the international market.

    According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola was steady at Rs240,300, while the 10-gramme gold rate held firm at Rs206,019.

    The stability follows a decrease observed on Saturday, when the price per tola dropped by Rs1,400.

    Internationally, the gold price also saw no movement on Monday, maintaining a rate of $2,326 per ounce, inclusive of a $20 premium, as reported by APGJSA.

    In addition, silver prices in the local market remained steady, with the rate per tola fixed at Rs2,820.

    Pakistani rupee on first trading day of the week witnessed slight depreciation as the local currency dropped by Rs3.37 paisa against the US dollar and closed the day at Rs278.36 per USD.

  • Gold price declines by Rs1,400 to Rs240,300 per tola

    Gold price declines by Rs1,400 to Rs240,300 per tola

    Gold prices in Pakistan fell on Saturday, reflecting a decrease in the international market rate. The local market saw the price of gold per tola drop to Rs240,300, a decline of Rs1,400 in just one day.

    The price for 10 grammes of gold also decreased, standing at Rs206,019 after a reduction of Rs1,200, according to the latest figures from the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This decline followed a brief increase on Friday, when the price of gold per tola rose by Rs500.

    Internationally, the gold rate saw a downward trend on Saturday. The APGJSA reported that the price per ounce was set at $2,326, including a premium of $20, after a $16 drop during the day.

    In addition to gold, silver prices also fell, with rates decreasing by Rs80 to settle at Rs2,820 per tola.

    It’s noteworthy that just last month, gold reached an all-time high in the local market, hitting Rs252,200 per tola.

  • Gold price surges by Rs500 per tola amid global market rally

    Gold price surges by Rs500 per tola amid global market rally

    After experiencing a decline in the previous session, gold prices in Pakistan saw a significant increase on Friday, mirroring the upward trend in international markets.

    The local market price for gold per tola rose by Rs500, settling at Rs241,700, according to the latest figures released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    The price of 10 grammes of gold also climbed, increasing by Rs429 to reach Rs207,219. This comes after a notable drop on Thursday, when the price per tola had decreased by Rs1,500.

    On the international front, the gold rate saw an upward adjustment. The APGJSA reported that the international gold price was set at $2,342 per ounce, including a $20 premium, following a $7 increase during the day.

    In contrast, silver prices in the local market remained stable, with rates holding steady at Rs2,900 per tola.

    Last month, gold prices in Pakistan reached an all-time high of Rs252,200 per tola, reflecting significant volatility in the market.

  • Gold price surges by Rs2,400 per tola amid declining purchasing power

    Gold price surges by Rs2,400 per tola amid declining purchasing power

    In a notable upswing, the price of 24-karat gold in Pakistan surged by Rs2,400 on Wednesday, bringing the cost to Rs242,700 per tola.

    This increase reflects the ongoing volatility in the gold market, influenced by both domestic and international factors.

    Interestingly, the current price of gold remains Rs3,000 below its actual market value. This discrepancy is primarily attributed to a reduction in purchasing power, as reported by market analysts.

    The Karachi Sarafa Association disclosed that the price of 24-karat gold also rose to Rs208,076 per 10 grammes, marking an increase of Rs2,058.

    The price of 22-karat gold followed this upward trend, reaching Rs190,736 per 10 grammes. 

    Silver prices have also climbed, keeping pace with international trends. The price of 24-karat silver now stands at Rs2,900 per tola and Rs2,486.28 per 10 grammes, up by Rs100 per tola and Rs85.74 per 10 grammes, respectively.

    On the global stage, spot gold traded at approximately $2,345.04 per ounce, a decline of 0.66 per cent from the previous day’s closing. In contrast, spot silver maintained its strength, trading near $32 per ounce after recording a 1.36 per cent increase the previous day.