Tag: latest gold price

  • Gold price slides by Rs500 per tola following Monday’s surge

    Gold price slides by Rs500 per tola following Monday’s surge

    Gold prices in Pakistan experienced a downturn on Tuesday, mirroring the global trend of decrease.

    According to the latest data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price per tola of gold stood at Rs240,300, marking a decrease of Rs500 within a single day.

    Similarly, the price of 10 grammes of gold witnessed a decline, reaching Rs206,018 after experiencing a decrease of Rs429, as reported by APGJSA.

    In contrast, silver rates remained unchanged at Rs2,800 per tola.

    This drop in prices contrasts with the situation on Monday when gold prices surged by Rs800 per tola in Pakistan.

    It’s noteworthy that just last month, gold reached an all-time high of Rs252,200 per tola in the local market, reflecting the volatility and fluctuations within the precious metals market.

    Internationally, the price of gold also saw a reduction on Tuesday. APGJSA reported an international rate of $2,339 per ounce, with a $20 premium, marking a decrease of $4 during the day.

  • Gold price increases by Rs800 to Rs240,800 per tola

    Gold price increases by Rs800 to Rs240,800 per tola

    The domestic bullion market experienced a notable rebound on Monday, with the price of 24-karat gold rising by Rs800 to Rs240,800 per tola.

    This increase comes after a week of losses, reflecting a significant shift in the market dynamics.

    The recent surge in gold prices is attributed to a robust rally in the international market. Initially, local gold dealers underpriced the metal by Rs4,000 per tola due to a substantial reduction in purchasing power.

    However, the current rates are now aligned with transparent international pricing, factoring in the exchange rate fluctuations that influenced last week’s decline.

    According to the Karachi Sarafa Association, the price of 24-karat gold increased to Rs206,447 per 10 grammes, marking a rise of Rs686. Similarly, the price of 22-karat gold climbed to Rs189,243 per 10 grammes.

    In contrast, silver prices remained stable in the domestic market. The price for 24-karat silver held steady at Rs2,800 per tola and Rs2,400.54 per 10 grammes.

    On the international stage, gold is currently trading at $2,343.37 per ounce, up by 0.41 per cent or $9.8 compared to the previous close. Investors are closely monitoring the likelihood of U.S. interest rate cuts, particularly ahead of a key inflation report expected later this week.

  • Fourth straight decline: Gold price drops by Rs1,800 per tola

    Fourth straight decline: Gold price drops by Rs1,800 per tola

    In a continuing trend, gold prices in Pakistan fell by Rs1,800 per tola on Friday, marking the fourth consecutive session of decline.

    This drop aligns with a decrease in international gold rates. As of the latest update, the price of gold per tola in Pakistan is Rs240,200.

    Similarly, the price of 10-gramme gold also saw a reduction, shedding Rs1,543 to settle at Rs205,933, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This decline follows a significant drop on Thursday, where gold prices decreased by Rs6,200 per tola in the local market.

    On the international front, gold prices eased further on Friday. The APGJSA reported the international rate at $2,338 per ounce, which includes a $20 premium, after a $17 drop during the day.

    In contrast, silver prices remained stable, holding steady at Rs2,800 per tola.

    Last month, gold prices in Pakistan reached an all-time high of Rs252,200 per tola, highlighting the recent volatility in the precious metals market.

  • Gold price surges by Rs2,300 to Rs250,400 per tola

    Gold price surges by Rs2,300 to Rs250,400 per tola

    Gold prices in Pakistan experienced significant increases on Monday, mirroring the rise in international markets. According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged by Rs2,300, reaching Rs250,400.

    Similarly, the price for 10 grams of gold saw a notable rise, gaining Rs1,972 to sell at Rs214,678. These increases reflect the upward trend in global gold prices, which rose by $25 to $2,439 per ounce, inclusive of a $20 premium.

    In contrast, silver prices remained stable at Rs2,850 per tola.

    This recent surge in gold prices comes after the metal hit a record high of Rs252,200 per tola last month. Just two days prior, on Saturday, gold prices in Pakistan had already increased by Rs3,100 per tola.

    These fluctuations highlight the strong connection between local and international precious metal markets, with local prices adjusting swiftly in response to global economic conditions.

  • Gold price increases by Rs1,600 to Rs245,600 per tola

    Gold price increases by Rs1,600 to Rs245,600 per tola

    Gold prices in Pakistan continued their upward trend on Thursday, mirroring the surge in the global market rates.

    According to the latest data from the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola reached Rs245,600, marking a notable increase of Rs1,600 within a single day.

    Similarly, the 10-gramme gold rate climbed to Rs210,562, reflecting a rise of Rs1,371.

    The international gold rate also experienced an upswing on Thursday, as reported by APGJSA. It reached $2,390 per ounce, with an additional premium of $20, following a $25 increment throughout the day.

    In parallel, silver prices witnessed a hike, settling at Rs2,730 per tola after an uptick of Rs80.

    This surge in gold and silver prices comes after a recent record high last month, where gold soared to Rs252,200 per tola in the domestic market. Notably, just the previous day, gold prices in Pakistan had risen by Rs2,900 per tola.

    The continuous rise in precious metal prices both domestically and internationally underscores the ongoing volatility in the global economic landscape, influencing investment patterns and consumer sentiments in Pakistan’s bullion 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.

  • Gold price surges by Rs4,600 to Rs243,800 per tola

    Gold price surges by Rs4,600 to Rs243,800 per tola

    Gold prices in Pakistan experienced a substantial rise on Friday, reflecting a similar surge in the international market. The price of 24-karat gold increased by Rs4,600, bringing the cost to Rs243,800 per tola.

    Despite the sharp increase, the Karachi Sarafa Association has kept the price Rs3,000 below its actual cost.

    According to the association, this decision was made to accommodate the reduced purchasing power among consumers.

    “In view of the significant reduction in purchasing power, the price of gold today has been kept under cost by Rs3,000,” stated a spokesperson for the association.

    In recent weeks, the price of 24-karat gold has shown considerable fluctuations. Last week, it dropped by Rs6,400 per tola, leading to a cumulative loss of Rs14,200 per tola or 5.63 per cent over the past two weeks.

    Alongside the increase in 24-karat gold prices, other precious metals also experienced a boost.

    The Karachi Sarafa Association reported the price of 24-karat gold at Rs209,019 per 10-gramme, marking a gain of Rs3,944. Similarly, the price of 22-karat gold rose to Rs191,601 per 10-gramme.

    Silver prices followed the upward trend, with 24-karat silver priced at Rs2,650 per tola, up by Rs30. The price for 10-gramme 24-karat silver also rose, reaching Rs2,271.94, a gain of Rs25.72.

  • 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 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.