Tag: latest gold price

  • Gold price drops by Rs600 per tola in Pakistan following global rate decline

    Gold price drops by Rs600 per tola in Pakistan following global rate decline

    Gold prices in Pakistan experienced a notable decrease on Saturday, mirroring a similar downward trend in international markets.

    The cost of gold per tola dropped by Rs600, settling at Rs244,400. This decline came after a recent surge in prices, adding a new dynamic to the local market’s fluctuations.

    Similarly, the price for 10 grammes of gold fell by Rs514, concluding the day at Rs209,534, according to the latest data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    These changes reflect the sensitive nature of gold prices to international trends and the inherent volatility in the market.

    Friday had seen a significant uptick in gold prices, with an increase of Rs2,500 per tola.

    This rapid shift highlights the unpredictable nature of gold valuations, influenced by a myriad of factors including global economic conditions, currency exchange rates, and market speculation.

    On the international front, gold prices also faced a downturn on Saturday, with a reported drop of $6 per ounce.

    The APGJSA noted that the international rate for gold was set at $2,337 per ounce, including a premium of $20.

    This shift in global pricing further underscores the interconnectedness of gold markets and their impact on local prices.

    While gold prices experienced a dip, silver rates remained steady, with the per tola rate holding at Rs2,650.

    The stability in silver pricing contrasts with the more volatile gold market, providing a level of consistency for those investing in precious metals.

    Just a week prior, gold prices in Pakistan had reached an all-time high, with the rate per tola hitting Rs252,200.

    The recent fluctuations are a stark reminder of the dynamic and often unpredictable nature of the precious metals market, where international trends can have a significant impact on local pricing.

  • Gold price in Pakistan remains unchanged on first trading day of the week

    Gold price in Pakistan remains unchanged on first trading day of the week

    On the first trading day of the week, gold prices in Pakistan maintained stability while witnessing a slight uptick in the global market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market reported no change in the price of gold per tola, standing firm at Rs228,200.

    Similarly, the rate for 10 grammes of gold remained unchanged at Rs195,645.

    This follows a notable decline in gold prices observed in the previous session, where rates plummeted by Rs4,200 per tola.

    However, on Monday, the international market witnessed a modest increase in gold prices. With a premium of $20, the global rate of gold rose by $2, settling at $2,187 per ounce, as reported by APGJSA.

    Meanwhile, silver rates in the domestic market remained stable at Rs2,580 per tola, showing no significant fluctuations.

    The consistent performance of precious metals in Pakistan reflects a steadiness in the market amid global economic dynamics.

    The stability in gold prices locally, coupled with the marginal gain in the international market, underscores the cautious sentiment prevailing among investors amidst evolving geopolitical and economic factors.

  • Gold price increases by Rs500 to Rs227,800 per tola

    Gold price increases by Rs500 to Rs227,800 per tola

    Gold prices in the domestic market showed a slight uptick on Wednesday. The value of 24-karat gold rose by Rs500 to reach Rs227,800 per tola, according to the Karachi Sarafa Association.

    For smaller quantities, the price of 24-karat gold per 10 grammes climbed to Rs195,302, marking an increase of Rs429. Meanwhile, 22-karat gold saw a similar trend, reaching Rs179,027 per 10 grammes.

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

    Last week, 24-karat gold saw a reversal from its two-week upward trend, registering a loss of Rs2,700 per tola.

    On the global scale, international spot gold hovered around $2,155.8 an ounce, experiencing a marginal decline of 0.08 per cent compared to the previous session.

    Investors are eagerly awaiting the policy decision from the US Federal Reserve later today, with prevailing expectations leaning towards the Fed maintaining its current stance.

  • Gold prices remain unchanged in Pakistan amid global market stability

    Gold prices remain unchanged in Pakistan amid global market stability

    Gold prices in Pakistan remained steady on Friday, in line with the unchanged trend witnessed in the global market for the precious metal.

    As reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), there were no fluctuations in the local market’s gold prices.

    The price per tola remained firm at Rs228,550, while the rate for 10 grammes stayed constant at Rs195,945.

    This stability followed a minor increase in gold rates noted on Thursday, with a rise of Rs250 per tola reported.

    Similarly, the international gold price held its ground on Friday, standing at $2,188 per ounce with a $20 premium, as verified by APGJSA.

    Silver prices also maintained their stability, remaining unchanged at Rs2,600 per tola.

  • Gold price closes week above Rs230,000 per tola

    Gold price closes week above Rs230,000 per tola

    In a notable development, gold prices in Pakistan witnessed a substantial increase, with the per-tola price surging by Rs1,600 in the local market.

    The gold rate climbed to a new height, reaching Rs230,200 in the domestic market, reflecting the ongoing economic dynamics.

    Specifically, the price of 10 grammes of 22-karat gold has also experienced an upward trend, trading at Rs180,913.

    This surge in gold prices is likely to impact various sectors of the economy, prompting investors and market observers to closely monitor the situation.

    Simultaneously, the Pakistan Stock Exchange (PSX) has marked a week of positive trends and significant growth in business activities following the recently held general elections.

    As the business week concluded, the KSE-100 index stood at 65,793 points, indicating a gain of 468 points, or 0.70 per cent. 

    Throughout the week, the KSE-100 index reached its peak at an impressive 66,150 points, underscoring the confidence of investors in the market.

    However, it is noteworthy that the index experienced fluctuations, with the lowest point recorded at 65,187.

  • Gold price plummets by Rs3,500 to Rs210,800 per tola in Pakistan

    Gold price plummets by Rs3,500 to Rs210,800 per tola in Pakistan

    In a significant market development, the price of 24-karat gold in the local bullion market took a sharp nosedive, plummeting by Rs3,500 to Rs210,800 per tola. 

    This dramatic downturn comes in the wake of hotter-than-expected US inflation data, which has sparked speculation that the Federal Reserve may delay anticipated rate cuts.

    According to the Karachi Sarafa Association, the price of 10-gramme 24-karat gold saw a notable decline, settling at Rs180,727, marking a loss of Rs3,001 compared to the previous session. Similarly, the price of 10-gramme 22-karat gold fell to Rs165,666.

    The downward trend extended to silver prices as well, with 24-karat silver being sold at Rs2,580 per tola, showing a decrease of Rs20 day-over-day. The 10-gramme silver price also experienced a dip, dropping by Rs17.15 to Rs2,211.93.

    On the global stage, international spot gold slipped below $2,000 for the first time in two months, experiencing a 1.34 per cent decline or $27. 

    This shift follows the release of American Consumer Price Index (CPI) data, which disappointed investors after a recent downturn in price pressures had fostered expectations for rate cuts this year, as reported by Bloomberg.

    Federal Reserve Chairman Jerome Powell’s cautious stance, echoed by other Fed speakers, gained credence in light of the CPI figures. 

    Swap contracts referencing Fed policy meetings, which previously indicated a high likelihood of a rate cut in May and substantial easing by year-end, were significantly affected. 

    The odds of a May cut dropped to about 32 per cent from 64 per cent prior to the inflation data, with expectations for fewer than 90 basis points of easing this year.

  • Gold price remains steady at Rs214,300 per tola with no fluctuations

    Gold price remains steady at Rs214,300 per tola with no fluctuations

    The cost of 24-karat gold in the local bullion market remained unchanged at Rs214,300 per tola on Tuesday, according to the Karachi Sarafa Association. 

    Similarly, the prices for both 10-gramme 24-karat and 22-karat gold stood at Rs183,728 and Rs168,416, respectively. 

    Last week, a decline in international prices led to a Rs1,700 drop in the domestic market for 24-karat gold per tola.

    Silver prices also maintained stability in the domestic market, with 24-karat silver selling at Rs2,600 per tola and Rs2,229.08 per 10 grammes. Meanwhile, on the global stage, international spot gold traded near $2,025.7 as of 12:50 pm, marking a 0.35 per cent increase for the day.

    Investors are closely watching for the release of crucial US inflation data later today, which may provide further insight into the timing of the Federal Reserve’s potential interest rate adjustments.

  • Gold price in Pakistan falls by Rs1,200 per tola, breaking winning streak

    Gold price in Pakistan falls by Rs1,200 per tola, breaking winning streak

    In a reversal from its recent gains, gold prices in Pakistan opened the new week in the red, witnessing a decline of Rs1,200 per tola for 24-karat gold, bringing it to Rs214,800 on Monday.

    The Karachi Sarafa Association reported a decrease of Rs1,029 in the 10-gramme 24-karat gold, settling at  184,156. The 10-gramme 22-karat gold closed at Rs168,810.

    This comes after a notable surge last week, where gold prices rose by Rs2,100 per tola due to an upswing in international prices. Contrary to gold, silver prices remained steady in the domestic market, with 24-karat silver selling at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

    The international context reveals a 0.8 per cent drop in spot gold during today’s early trade session, amounting to $16.18.

    This decline is attributed to a rise in US Treasury yields and the dollar, fueled by diminished expectations of a rate cut. Federal Reserve Chair Jerome Powell dismissed the idea of lowering interest rates in the spring, expressing confidence in inflation returning to the 2 per cent target, according to Reuters.

    Adding to the pressure on domestic gold prices is the Pakistani rupee’s continued success against the US dollar. As the PKR maintains its positive trajectory, it further contributes to the challenges faced by the domestic gold market.

  • Gold price soars to Rs216,300 per tola with Rs800 increase in Pakistan

    Gold price soars to Rs216,300 per tola with Rs800 increase in Pakistan

    In alignment with the surge in the global market, gold rates in Pakistan experienced an upward trajectory on Thursday.

    The precious metal, often viewed as a barometer for economic sentiment, reached Rs216,300 per tola, marking an increase of Rs800 over the course of the day.

    As reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold bar was traded at Rs185,442 following a notable rise of Rs686.

    This shift in prices follows a contrasting trend from the preceding day, when gold prices in Pakistan had seen a decline of Rs600 per tola.

    The international gold rate exhibited a similar positive movement on Thursday, reaching $2,060 per ounce with a $20 premium.

    This uptick of $5 in the global market, as highlighted by APGJSA, contributed to the buoyancy in the local gold prices.

    Conversely, silver rates remained steadfast at Rs2,600 per tola, maintaining stability in the precious metals market.

    This fluctuation in gold prices can be attributed to the intricate interplay of various global economic factors.

    Analysts suggest that investors and traders should closely monitor these trends to make informed decisions in the ever-evolving market.

  • Gold price surges by Rs700 per tola, reaching Rs216,100 in domestic market

    Gold price surges by Rs700 per tola, reaching Rs216,100 in domestic market

    The domestic bullion market experienced an upswing on Tuesday as the price of 24-karat gold surged by Rs700 per tola, reaching Rs216,100.

    This price hike was reported by the Karachi Sarafa Association, which also noted a Rs600 increase in the 10-gramme 24-karat gold, now standing at Rs185,271. The 10-gramme 22-karat gold was priced at Rs169,832.

    In contrast, silver prices remained stable in the domestic market, with 24-karat silver being sold at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

    The sudden spike in domestic gold prices can be attributed to the rise in international prices. Currently, international spot gold is trading at $2,039.598, marking a 0.24 per cent increase compared to the previous session’s closing.

    Last week, we witnessed the second consecutive weekly loss in the international gold market due to diminishing expectations of a rate cut. However, the recent escalation of tensions in the Middle East has triggered a surge in the demand for safe-haven assets, particularly gold, signalling a bullish trend.

    Despite the persistent pressure on domestic gold caused by the continuous strengthening of the Pakistani Rupee (PKR), the market dynamics shifted due to the sudden upturn in international prices.

    The impact of the PKR’s strength was outweighed by the growing appeal of gold in the wake of geopolitical uncertainties.

    Investors and analysts are closely monitoring the evolving situation both domestically and internationally as they assess the potential impacts on precious metal markets.

    The fluctuating trends in gold prices highlight the intricate relationship between global events and their influence on the financial landscape.