Tag: new gold price

  • 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 price reaches all-time high of Rs241,100 per tola

    Gold price reaches all-time high of Rs241,100 per tola

    Gold prices in Pakistan have hit a fresh record high, with the 24-karat gold reaching Rs241,100 per tola in today’s trading session. 

    This marks an increase of Rs2,200 per tola compared to the previous session’s close.

    It’s important to highlight that the previous peak for 24-K gold stood at Rs240,000, noted on May 10, 2023. 

    However, the all-time intraday high for gold has not been surpassed yet. According to the Karachi Sarafa Association, the highest intraday price recorded stands at Rs242,700.

    The current surge in domestic gold prices has been ongoing since March, with the precious metal seeing a significant increase of Rs19,100 in line with the rise in international gold prices.

    The association also reported that the price of 24-karat gold reached Rs206,704 per 10 grammes, marking an increase of Rs1,886 compared to the previous session. 

    Similarly, the price of 22-karat gold saw an uptick, reaching Rs189,480 per 10 gramme.

  • Gold price increases by Rs3,800 per tola

    Gold price increases by Rs3,800 per tola

    Gold prices in Pakistan surged further on Friday, propelled by a remarkable surge in the global market.

    The price of gold per tola soared to an unprecedented level, hitting Rs234,800 in local markets after witnessing a substantial gain of Rs3,800 within the span of a single day.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for 10 grammes of gold stood at Rs201,303, marking a notable increase of Rs3,258 from the previous day’s rates.

    Thursday had already seen a significant uptick in gold prices in Pakistan, with an increase of Rs1,500 per tola.

    Meanwhile, the international gold market witnessed a similar trend, with gold rates surging to a historic high of $2,254 per ounce.

    This marked a substantial gain of $40, accompanied by a $20 premium. APGJSA reported these figures, underscoring the remarkable momentum in the global gold market.

    In parallel, silver prices also experienced an upward trajectory, rising by Rs20 to reach Rs2,600 per tola, further highlighting the general bullish sentiment in precious metal markets.

  • Gold price drops by Rs1,050 per tola in Pakistan

    Gold price drops by Rs1,050 per tola in Pakistan

    On Saturday, gold rates in Pakistan saw a decline, mirroring the global trend where prices dipped.

    The precious metal was valued at Rs227,500 per tola after experiencing a drop of Rs1,050 throughout the day. Similarly, the 10-gramme gold price stood at Rs195,045, marking a decrease of Rs900.

    These figures were provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    The previous day, Friday, gold prices had remained steady at Rs228,550 per tola. However, Saturday witnessed a shift as the international rate of gold, with a premium of $20, settled at $2,175 per ounce.

    This reflects a $13 decrease in the international market, as reported by APGJSA.

    In contrast, silver rates remained unchanged at Rs2,600 per tola, indicating stability in that market segment amidst the fluctuations in gold prices.

    The fluctuations in gold rates are closely monitored by investors and consumers alike, as they reflect not only economic dynamics within Pakistan but also global trends impacting the precious metals market.

    This dip in prices may influence consumer behaviour and investment decisions in the coming days.

  • 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.

  • 24-karat gold price dips slightly by Rs100 per tola

    24-karat gold price dips slightly by Rs100 per tola

    In the domestic bullion market, Tuesday saw a relatively stagnant session, with the price of 24-karat gold slipping by Rs100 to Rs230,100 per tola.

    Notably, this marks the first decline in gold prices in Pakistan following ten consecutive sessions of growth.

    Just last week, the price of 24-karat gold surged by almost Rs10,000 per tola, reaching levels unseen since September 2023.

    However, according to the Karachi Sarafa Association, the price of 10-gramme 24-karat gold dropped to Rs197,274 per tola, reflecting a decrease of Rs86.

    Similarly, the price of 10-gramme 22-karat gold experienced a slight dip, settling at Rs180,834.

    Contrastingly, silver prices remained stable today, with 24-karat silver maintaining its rate at Rs 2,600 per tola and Rs2,229.08 per 10-gramme.

    On the global stage, international spot gold traded near $2,177.14 an ounce, marking a 0.26% decrease from the previous session.

    Investors are closely monitoring Tuesday’s U.S. inflation data, anticipating its impact on monetary policy.

  • Gold price remains unchanged at Rs230,200 per tola

    Gold price remains unchanged at Rs230,200 per tola

    In a day of consistency, gold prices in Pakistan remained unaltered on Monday, mirroring the steady trend observed in the international 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, maintaining a steady Rs230,200.

    Similarly, the 10-gramme gold price remained constant at Rs197,360.

    The international market echoed this stability, with the global rate of gold holding firm at $2,198 per ounce on Monday. APGJSA noted a premium of $20, maintaining the equilibrium of the precious metal’s value.

    In parallel, silver prices also exhibited stability in the local market, remaining fixed at Rs2,600 per tola.

    This unswerving trend further highlights the current stability in the precious metals market, providing insights for investors and enthusiasts alike.

  • 8th straight surge: Gold price increases to Rs228,600 per tola in Pakistan

    8th straight surge: Gold price increases to Rs228,600 per tola in Pakistan

    In a remarkable eighth consecutive session, the domestic bullion market has maintained its bullish trend, driving the price of 24-karat gold to new heights.

    The surge reached an impressive Rs13,800 per tola during this period, with today’s session witnessing a gain of Rs450 per tola, bringing the current trade value to Rs228,600.

    The Karachi Sarafa Association reported that the price of 10-gramme 24-karat gold has soared to Rs195,988 per tola, marking an increase of Rs386.

    Additionally, the price of 10-gramme 22-karat gold has experienced a notable rise, reaching Rs179,655.

    Contrastingly, silver prices have remained unchanged, with 24-karat silver maintaining its position at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

    Internationally, the spotlight is on the global spot gold market, which is poised to record its most significant weekly jump in five months.

    Over the past eight sessions, spot rates have climbed by 6.7 per cent, or $136, spurred by remarks from FED Chair Jerome Powell that have solidified expectations for interest rate cuts later in the year.

    The inverse relationship between gold and bond yields has contributed to the precious metal’s robust performance.

    Additionally, the rally in procyclical asset classes, particularly equities, has provided further support to gold as investors seek to diversify their risk exposure.

  • 7th consecutive rise: Gold price surges by over Rs2,700 per tola

    7th consecutive rise: Gold price surges by over Rs2,700 per tola

    In a remarkable seventh consecutive session, the gold market in Pakistan continued its bullish trend, witnessing a surge in the price of 24-karat gold by Rs2,750 per tola, reaching Rs228,150 on Thursday.

    Over the course of the past seven trading days, the domestic bullion market has experienced a significant uptick, with the price of gold appreciating by Rs13,350 per tola, marking a substantial 6.2 per cent increase. This surge is attributed to the notable rise in the international market.

    The Karachi Sarafa Association shared that the price of 10-gramme 24-karat gold has reached Rs195,602 per tola, indicating a substantial rise of Rs2,358.

    Additionally, the price of 10-gramme 22-karat gold has also seen an upward trend, reaching Rs179,301.

    Contrastingly, silver prices remained stable today, with 24-karat silver maintaining its position at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

    On the global front, the international spot gold market continued its rapid ascent, reaching a peak of $2,161.48 per ounce.

    These gains have surprised many investors, especially considering the absence of major changes in expectations regarding the Federal Reserve’s rate-cutting decisions, as reported by Bloomberg.

    It’s worth noting that gold traditionally exhibits an inverse relationship with bond yields, further contributing to the complexity of recent market movements.