Tag: latest gold prices

  • Gold price falls slightly by Rs500 to Rs256,000 per tola

    Gold price falls slightly by Rs500 to Rs256,000 per tola

    Gold prices in Pakistan held steady on Monday, even as global markets experienced significant fluctuations due to concerns over a potential slowdown in the US economy.

    According to the Karachi Sarafa Association, the price of 24-karat gold remained at Rs256,000 per tola, reflecting a modest decline of Rs500.

    In contrast, international markets saw a dramatic decline in spot gold prices, which plummeted by as much as 3.2 per cent in the previous session—the largest intraday drop since early June.

    By the end of the trading day, gold prices had recovered somewhat but still closed 1.2 per cent lower. The metal traded within a volatile range of over $90, driven by fears of a deeper economic slowdown in the US.

    The VIX index, which gauges market volatility, surged by 180 per cent to 65.7, marking its highest level since the COVID-19 crisis in 2020. Concurrently, spot silver prices fell by 4.6 per cent globally, which would have equated to a loss of approximately Rs130 per tola in Pakistan.

    Despite these global declines, the Sarafa Association reported that the price of 24-karat silver in Pakistan was Rs2,850 per tola, only down by Rs50.

  • Gold price increases by Rs1,000 to Rs243,300 per tola

    Gold price increases by Rs1,000 to Rs243,300 per tola

    Gold prices in Pakistan experienced a significant rise on Thursday, with 24-karat gold now being sold at Rs243,300 per tola, marking an increase of Rs1,000 per tola from the previous day.

    Despite this increase, the price remains Rs3,000 below its actual cost, reflecting the ongoing reduction in purchasing power.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes rose by Rs857, reaching Rs208,590. In comparison, 22-karat gold saw a similar upward trend, priced at Rs191,207 per 10 grammes.

    In contrast, silver prices remained stable in the domestic market. The price of 24-karat silver stood at Rs2,850 per tola and Rs2,443 per 10 grammes, showing no change from the previous rates.

    On the international stage, spot gold traded near $2,357 an ounce, a slight decline of $2.2 or 0.09 per cent from the previous session. This minor dip did not significantly impact the local market, where the primary concern remains the diminished purchasing power of consumers.

    The ongoing fluctuations in gold prices highlight the broader economic challenges facing consumers and traders alike in Pakistan.

  • Gold price hits Rs241,500 per tola after recent surge

    Gold price hits Rs241,500 per tola after recent surge

    The price of gold in Pakistan saw a significant rise on Friday, with 24-karat gold now selling at Rs241,500 per tola, marking an increase of Rs800 per tola.

    This adjustment is notable as the price has been maintained Rs1,500 below its actual cost due to a reduction in purchasing power.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes has increased by Rs686, bringing it to Rs207,047. Similarly, 22-karat gold saw a price hike, reaching Rs189,793 per 10 grammes.

    In contrast, silver prices remained steady in the domestic market. The price of 24-karat silver continued to be Rs2,750 per tola and Rs2,358 per 10 grammes.

    On the international stage, spot gold was trading near $2,331 an ounce, reflecting a rise of $28.7 or 1.25 per cent from the previous session. This upward trend in the global market has influenced the local pricing dynamics in Pakistan.

    The ongoing fluctuation in gold prices is closely monitored by investors and market participants, as it reflects broader economic conditions and purchasing power within the country.

  • Gold prices fall for third consecutive session, dropping by Rs2,000 per tola

    Gold prices fall for third consecutive session, dropping by Rs2,000 per tola

    Gold prices in Pakistan continued their downward trend for the third consecutive session on Tuesday, mirroring the decline in international markets.

    The price per tola of gold fell by Rs2,000 to settle at Rs241,900, according to data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    In the local market, the cost of 10 grammes of gold decreased by Rs1,715, bringing the price to Rs207,390. This marks a notable reduction compared to the previous day’s loss of Rs500 per tola.

    The drop in local gold prices corresponds with a fall in the international market.

    According to the APGJSA, the global price of gold reached $2,316 per ounce, which includes a premium of $20, after a single-day decrease of $19.

    Silver prices also saw a decline, with a reduction of Rs20, bringing the price down to Rs2,630 per tola.

    Over the past three sessions, gold prices in Pakistan have fallen by Rs3,100 per tola, a significant correction from the record high of Rs252,200 per tola earlier this month.

    This continued downward trend suggests a possible easing of demand or adjustments in the international gold market.