Tag: latest gold rate

  • Gold price increases by Rs700 to Rs241,000 per tola

    Gold price increases by Rs700 to Rs241,000 per tola

    The price of gold in Pakistan saw a notable increase on Tuesday, with 24-karat gold reaching Rs241,000 per tola, marking a Rs700 rise from the previous session.

    This hike comes despite efforts to maintain prices below their actual value to accommodate the reduced purchasing power among consumers. Currently, gold prices are set Rs3,000 lower than their market cost.

    In a broader context, last week witnessed a mild recovery in Pakistan’s bullion market. The price of 24-karat gold edged up by Rs300, settling at Rs240,300 per tola.

    The Karachi Sarafa Association reported an additional increase this week, with 24-karat gold rising by Rs600 to Rs206,619 per 10 grammes. In comparison, 22-karat gold was priced at Rs189,400 per 10 grammes.

    Silver prices remained stable, with 24-karat silver selling for Rs2,900 per tola and Rs2,486.28 per 10 grammes.

    On the international stage, spot gold traded near $2,331.69 an ounce, experiencing a decline of 0.81 per cent from the previous close. The global gold market is currently influenced by uncertainties surrounding potential interest rate cuts by the Federal Reserve.

    This ambiguity has caused confusion among market participants regarding the future trend of inflation, contributing to the recent depreciation in gold prices.

    The fluctuating gold prices in Pakistan reflect a combination of local economic conditions and international market trends, illustrating the intricate balance between domestic fiscal strategies and global economic influences.

  • Gold prices in Pakistan dip marginally amid declining purchasing power

    Gold prices in Pakistan dip marginally amid declining purchasing power

    Gold prices in Pakistan saw a slight decline on Wednesday, with the rate for 24-karat gold falling by Rs300 to Rs248,200 per tola.

    The Karachi Sarafa Association reported that the price of 24-karat gold also decreased to Rs212,791 per 10 grammes, marking a drop of Rs236. Similarly, the price of 22-karat gold was adjusted to Rs195,059 per 10 grammes.

    This decrease in gold prices can be attributed to a significant reduction in purchasing power, with the current rate maintained at Rs4,000 below its actual cost. 

    In contrast, silver prices remained stable in the domestic market. The price for 24-karat silver was steady at Rs2,850 per tola and Rs2,443.41 per 10 grammes.

    On the global stage, international spot gold traded near $2,418.3 per ounce, down by 0.11 per cent for the day. A notable trend is emerging in China, the world’s largest consumer of gold, where bullion imports have slowed.

    April saw overseas purchases of physical gold fall to 136 tons, a 30 per cent decrease from the previous month and the lowest total for the year, as per the latest customs data.

    Meanwhile, international silver prices held near an 11-year high. The surge in silver prices is driven by increased investor interest, a favourable macroeconomic environment, and a projected fourth annual market deficit. 

    The evolving dynamics in the precious metals market reflect broader economic trends and shifting consumer behaviours globally.

  • Gold price plummets by Rs1,900 per tola in Pakistan amid global decline

    Gold price plummets by Rs1,900 per tola in Pakistan amid global decline

    Gold prices in Pakistan fell on Tuesday, reflecting a drop in international rates. The price of gold per tola in the local market declined by Rs1,900, settling at Rs248,500, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    Similarly, the price of 10 grammes of gold decreased by Rs1,630, bringing it down to Rs21,048.

    This decline comes after a significant increase on Monday, when gold prices surged by Rs2,300 per tola in Pakistan.

    Internationally, the gold rate saw a decrease on Tuesday. According to APGJSA, the global price of gold was set at $2,418 per ounce, inclusive of a $20 premium, following a $21 drop during the day.

    In contrast, silver prices remained unchanged, holding steady at Rs2,850 per tola.

    Just last month, gold prices in Pakistan reached a record high of Rs252,200 per tola, marking an all-time peak in the local market.

  • Gold prices rebound, increase by Rs3,100 per tola

    Gold prices rebound, increase by Rs3,100 per tola

    On Saturday, gold prices in Pakistan saw a significant rise, mirroring the upward trend in the international market.

    According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola reached Rs248,100, marking a single-day increase of Rs3,100.

    Similarly, the price of 10-gramme gold surged to Rs212,706, reflecting a gain of Rs2,658.

    This spike in local gold prices is in line with the international gold rate, which rose to $2,414 per ounce, inclusive of a $20 premium, after a $30 increase during the day.

    Silver prices also experienced an uptick, with rates reaching Rs2,850 per tola, an increase of Rs120.

    It is noteworthy that last month, gold prices in the local market hit a record high of Rs252,200 per tola. Despite this recent surge, gold prices showed a decline of Rs600 per tola on Friday.

    These fluctuations highlight the volatile nature of the precious metals market, influenced heavily by global economic trends and investor sentiment.

  • 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 drops by Rs1,400 to Rs239,600 per tola

    Gold price drops by Rs1,400 to Rs239,600 per tola

    The price of gold in Pakistan continued its downward trajectory for the fifth consecutive session on Friday, dropping by another Rs1,400 to settle at Rs239,600 per tola.

    This sustained decline has caught the attention of investors and consumers alike, as it indicates a significant cooling of the precious metals market in the country.

    Alongside the decline in the price per tola, the rate for 10 grammes of gold also fell, reaching Rs205,418 after a reduction of Rs1,201 from the previous session.

    This comes after gold in Pakistan had already dropped by Rs900 per tola on Thursday, signalling a broader trend of decreasing gold prices.

    The downward movement in the local gold market aligns with trends observed internationally.

    The international rate of gold decreased on Friday, with APGJSA reporting a drop of $11 per ounce, settling at $2,297 (including a premium of $20).

    This decline in the global market is likely influencing the downturn in Pakistan’s gold prices.

    Interestingly, while gold has seen consistent declines, the price of silver has remained stable, with rates holding steady at Rs2,620 per tola.

    This divergence in the precious metals market raises questions about the underlying factors driving these trends and whether the gold-silver ratio is indicative of broader shifts in market sentiment.

    In the past five sessions, the cumulative decrease in gold prices per tola in Pakistan has reached Rs5,400, marking a significant reduction from the all-time high of Rs252,200 recorded last month.

    The recent volatility has left investors cautious, with many closely monitoring the market for signs of stabilisation or further declines.

    Given the significant fluctuations in the gold market, both local and international factors are likely to play a role in determining future trends.

    The ongoing uncertainties in global economic conditions and changing investor sentiment could further impact gold prices in the coming weeks.

  • Local gold price rises by Rs2,500, reaching Rs245,000 per tola

    Local gold price rises by Rs2,500, reaching Rs245,000 per tola

    Gold prices in Pakistan increased on Friday, reflecting a similar upward trend in the international markets.

    The price per tola (approximately 11.66 grammes) of gold reached Rs245,000, marking a single-day increase of Rs2,500. This comes after a modest gain of Rs500 on Thursday.

    The rates for 10 grammes of gold also saw a significant uptick, reaching Rs210,048 following a rise of Rs2,143, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This surge in local prices corresponds with a jump in international gold prices, which rose by $21 per ounce to settle at $2,343 (including a premium of $20) on Friday.

    Despite these increases in gold prices, silver rates remained unchanged, with the price per tola staying steady at Rs2,650.

    The recent volatility in gold prices underscores the impact of international market trends on the local Pakistani market.

    Last week, the price of gold reached an all-time high in Pakistan, with a tola selling for Rs252,200.

    The fluctuations in precious metal prices are closely monitored by investors and consumers alike, as they reflect broader economic trends and market sentiments.

    For gold traders and investors in Pakistan, these price shifts suggest a continuing trend of fluctuation, likely influenced by global economic factors and investor demand.

    The APGJSA will continue to provide updates on market trends and price changes as they occur.

  • Gold rates close week at all-time high of Rs245,100 per tola

    Gold rates close week at all-time high of Rs245,100 per tola

    Gold prices in Pakistan soared to unprecedented levels this week, surpassing previous records and reaching an all-time high, fueled by a significant surge in international rates.

    The prominent benchmark of the local gold market concluded the week at an extraordinary Rs245,100 per tola, marking a notable increase of Rs10,300 compared to the previous week’s closing figures.

    The ongoing rally in the domestic bullion market has been evident since March, during which the precious metal witnessed a substantial surge of Rs19,100, closely mirroring the upward trajectory of international gold prices.

    Notably, the preceding peak for 24-karat gold was recorded earlier in the week at Rs240,000, as documented on May 10, 2023.

    According to the Karachi Sarafa Association, the price of 24-karat gold surged to Rs210,134 per 10 grammes, registering an impressive increase of Rs8,831 week-on-week.

    Similarly, the price of 22-karat gold also experienced an upward trend, being quoted at Rs192,62 per 10 grammes.

    The remarkable ascent in gold prices underscores the dynamic nature of global economic factors impacting the precious metals market, highlighting the heightened demand and investor sentiment towards gold as a safe-haven asset amidst economic uncertainties.

  • Gold prices continue to surge, per tola rate hits Rs237,600

    Gold prices continue to surge, per tola rate hits Rs237,600

    Gold prices in Pakistan saw a sustained uptrend on the first trading day of the month, following a surge in the global market.

    The precious metal achieved a fresh record high internationally, reflecting its continued allure among investors.

    In Pakistan, the price per tola of gold reached Rs237,600, marking an increase of Rs2,800 throughout the day.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for 10 grammes of gold stood at Rs203,704, showing a rise of Rs2,401 compared to previous figures.

    Notably, gold prices had remained relatively stable at Rs234,800 per tola just two days prior, underscoring the recent market volatility.

    In contrast, silver rates remained steady at Rs2,600 per tola during the same period.

    Over the past seven sessions, gold has witnessed a notable increase of Rs9,400 per tola in the local market, reflecting strong investor sentiment and demand.

    Meanwhile, in the international arena, gold commanded a premium of $20, reaching an unprecedented high of $2,278 per ounce on Friday.

    This marked a $24 increase from previous levels, as highlighted by APGJSA. The surge in global prices further underscores the precious metal’s status as a safe-haven asset amidst economic uncertainties.

  • 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.