Tag: Local Gold Rates

  • 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.

  • Gold prices surge in Pakistani market, 24-karat hits Rs216,500 per tola

    Gold prices surge in Pakistani market, 24-karat hits Rs216,500 per tola

    On Friday, the domestic bullion market saw a modest increase, with the price of 24-karat gold in Pakistan rising by Rs200 per tola to reach Rs216,500.

    The Karachi Sarafa Association noted that the price of 10-gramme 24-karat gold reached Rs185,614, indicating a gain of Rs172, while the 10-gramme 22-karat gold stood at Rs170,146.

    In contrast, silver remained steady in the local market, with 24-karat silver being sold at Rs2,650 per tola and Rs2,271.94 per 10-gramme.

    On the global scale, international spot gold is currently trading at 2,036.75, marking an increase of $8.55 or 0.4% for the day.

    Notably, when the Karachi Sarafa Association reported local rates, the spot rate in the international market had seen a slight uptick of $4.