Tag: new gold price

  • Gold price increases by Rs1,200 to Rs246,800 per tola

    Gold price increases by Rs1,200 to Rs246,800 per tola

    On Thursday, gold prices in Pakistan saw a notable increase, reflecting global market dynamics. According to the Karachi Sarafa Association, 24-karat gold was priced at Rs246,800 per tola, marking a Rs1,200 rise per tola.

    Notably, despite this uptick, the price remains Rs2,500 below its actual cost due to prevailing economic conditions impacting purchasing power.

    For 10-gramme quantities, the price of 24-karat gold stood at Rs211,591, up by Rs1,029 per tola. Meanwhile, 22-karat gold was quoted higher at Rs193,959 per 10 grammes.

    In contrast, silver prices remained steady within the domestic market. The price of 24-karat silver was reported at Rs2,900 per tola and Rs2,486 per 10 grammes.

    Internationally, spot gold prices near $2,382 per ounce showed a modest increase of $9.6 or 0.41 per cent from the previous session.

    This latest movement in precious metal prices underscores both local economic factors influencing consumer buying power and broader global trends impacting commodity markets.

  • Fourth consecutive surge pushes gold price to Rs246,400 per tola in Pakistan

    Fourth consecutive surge pushes gold price to Rs246,400 per tola in Pakistan

    Gold prices in Pakistan rose for the fourth consecutive session on Saturday, mirroring an uptick in the international market.

    The price of gold per tola in the local market climbed by Rs2,000, reaching Rs246,400, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    Similarly, the price of 10-gramme gold increased by Rs1,740, selling at Rs211,247. This follows a Rs1,100 rise in the price per tola observed on Friday.

    Internationally, gold prices also saw an increase on Saturday. The rate, as reported by APGJSA, was $2,388 per ounce (including a $20 premium), marking a $24 gain for the day.

    Silver prices also saw an upward trend, rising by Rs50 to settle at Rs2,900 per tola.

    In April, the price of gold in the local market hit a record high of Rs252,200 per tola.

  • Gold price increases by Rs700 to Rs241,700 per tola

    Gold price increases by Rs700 to Rs241,700 per tola

    Gold prices in Pakistan have risen for the second consecutive session, mirroring an upward trend in the international market.

    On Friday, the price of gold per tola reached Rs241,700, marking a single-day increase of Rs700.

    Similarly, the price of 10-gram gold rose by Rs600, bringing it to Rs207,219, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    This follows a Rs400 increase on Thursday, when the price per tola reached Rs241,000.

    Internationally, gold prices climbed on Friday. According to the APGJSA, the international rate stood at $2,326 per ounce, including a $20 premium, after a $22 increase during the day.

    Meanwhile, silver prices remained stable at Rs2,850 per tola.

    In April, gold prices in the local market hit an all-time high of Rs252,200 per tola.

  • Gold price drops by Rs500 to Rs241,500 per tola

    Gold price drops by Rs500 to Rs241,500 per tola

    On Tuesday, gold prices in Pakistan saw a decline, marking a shift in the market trend. According to the Karachi Sarafa Association, the price of 24-karat gold fell to Rs241,500 per tola, a decrease of Rs500 per tola from the previous day’s rates.

    Similarly, the price for 10 grammes of 24-karat gold was reported at Rs207,047, reflecting a reduction of Rs429 per tola.

    Conversely, 22-karat gold was also quoted lower at Rs189,793 per 10 grammes.

    Meanwhile, silver prices remained unchanged in the domestic market, with 24-karat silver holding steady at Rs2,850 per tola and Rs2,443 per 10 grammes.

    Globally, the spot gold price hovered near $2,323 per ounce, showing a decline of $7.2 or 0.31 per cent compared to the previous trading session.

    This movement indicates ongoing volatility and fluctuations in the international gold market.

  • 24-karat gold price increases by Rs1,600 to Rs242,900 per tola in Pakistan

    24-karat gold price increases by Rs1,600 to Rs242,900 per tola in Pakistan

    The price of gold in Pakistan saw a significant increase on Friday, with 24-karat gold reaching Rs242,900 per tola, marking a rise of Rs1,600 per tola. Despite this increase, the price is notably Rs4,500 below its actual cost due to a decline in purchasing power.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes rose to Rs208,248, an increase of Rs1,372. Similarly, 22-karat gold prices also saw a hike, reaching Rs190,894 per 10 grammes.

    In contrast, silver prices remained stable in the domestic market. The price of 24-karat silver stood at Rs2,750 per tola and Rs2,358 per 10 grammes.

    On the global market, spot gold was trading near $2,364 an ounce, a modest increase of $3.9 or 0.17 per cent from the previous session. The precious metal is poised for a second consecutive weekly gain, bolstered by softer U.S. economic data that has fueled investor optimism about potential monetary easing.

    Thursday’s data showed a moderate decline in first-time applications for U.S. unemployment benefits last week, coupled with a drop in new housing construction. Additionally, retail sales data from the previous month were tepid, all of which have increased the likelihood of a rate cut in September, according to Reuters.

    Lower interest rates tend to reduce the opportunity cost of holding non-yielding bullion, making gold a more attractive investment. Meanwhile, China’s yuan fell to a fresh seven-month low against the dollar, further influencing the global economic landscape.

  • 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.

  • 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 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 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 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.