Tag: new gold rate

  • 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 declines to Rs245,000 per tola

    24-karat gold price declines to Rs245,000 per tola

    Gold prices in Pakistan saw a downturn on Friday, marking a loss of Rs600 for 24-karat gold, now priced at Rs245,000 per tola. Notably, this adjustment places the current price at a significant Rs4,000 below its actual value.

    The Karachi Sarafa Association highlighted the rationale behind this pricing strategy, citing a noteworthy decline in purchasing power. Accordingly, the decision was made to reduce the price by Rs4,000 to better align with market dynamics.

    Last week, 24-karat gold experienced an upward trend, witnessing an increase of Rs5,500 per tola. However, the latest figures indicate a reversal in this trajectory, with the price now standing at Rs210,048 per 10-gramme, down Rs514. Similarly, the price of 22-karat gold was marked lower at Rs192,544 per 10-gramme.

    Meanwhile, silver prices remained stable in the domestic market, with 24-karat silver holding steady at Rs2,730 per tola and Rs2,340.53 per 10-gramme.

    Internationally, the spot gold market witnessed a modest increase, hovering around $2,388.8 an ounce, marking a 0.5 per cent rise for the day. This upward movement contributes to a weekly gain of 1.2 per cent for the yellow metal.

  • Gold price drops by Rs600 per tola in Pakistan following global rate decline

    Gold price drops by Rs600 per tola in Pakistan following global rate decline

    Gold prices in Pakistan experienced a notable decrease on Saturday, mirroring a similar downward trend in international markets.

    The cost of gold per tola dropped by Rs600, settling at Rs244,400. This decline came after a recent surge in prices, adding a new dynamic to the local market’s fluctuations.

    Similarly, the price for 10 grammes of gold fell by Rs514, concluding the day at Rs209,534, according to the latest data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    These changes reflect the sensitive nature of gold prices to international trends and the inherent volatility in the market.

    Friday had seen a significant uptick in gold prices, with an increase of Rs2,500 per tola.

    This rapid shift highlights the unpredictable nature of gold valuations, influenced by a myriad of factors including global economic conditions, currency exchange rates, and market speculation.

    On the international front, gold prices also faced a downturn on Saturday, with a reported drop of $6 per ounce.

    The APGJSA noted that the international rate for gold was set at $2,337 per ounce, including a premium of $20.

    This shift in global pricing further underscores the interconnectedness of gold markets and their impact on local prices.

    While gold prices experienced a dip, silver rates remained steady, with the per tola rate holding at Rs2,650.

    The stability in silver pricing contrasts with the more volatile gold market, providing a level of consistency for those investing in precious metals.

    Just a week prior, gold prices in Pakistan had reached an all-time high, with the rate per tola hitting Rs252,200.

    The recent fluctuations are a stark reminder of the dynamic and often unpredictable nature of the precious metals market, where international trends can have a significant impact on local pricing.

  • 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 price in Pakistan remains unchanged on first trading day of the week

    Gold price in Pakistan remains unchanged on first trading day of the week

    On the first trading day of the week, gold prices in Pakistan maintained stability while witnessing a slight uptick in the global 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, standing firm at Rs228,200.

    Similarly, the rate for 10 grammes of gold remained unchanged at Rs195,645.

    This follows a notable decline in gold prices observed in the previous session, where rates plummeted by Rs4,200 per tola.

    However, on Monday, the international market witnessed a modest increase in gold prices. With a premium of $20, the global rate of gold rose by $2, settling at $2,187 per ounce, as reported by APGJSA.

    Meanwhile, silver rates in the domestic market remained stable at Rs2,580 per tola, showing no significant fluctuations.

    The consistent performance of precious metals in Pakistan reflects a steadiness in the market amid global economic dynamics.

    The stability in gold prices locally, coupled with the marginal gain in the international market, underscores the cautious sentiment prevailing among investors amidst evolving geopolitical and economic factors.

  • Gold prices go up by Rs350 per tola to Rs130,300

    Gold prices go up by Rs350 per tola to Rs130,300

    The price of gold in the local market soared by Rs350 per tola (11.7 gramme) on April 13. All Pakistan Jewellers Manufacturers Association stated that the precious yellow metal is currently trading at Rs130,300 per tola.

    Accordingly, the cost of 10 gramme of gold jumped by Rs300 to Rs111,711. Silver prices in the local market as of April 13, remained constant at Rs1,520 and Rs1,303.15.

    Gold prices touched a one-month high in the international market as surging consumer costs bolstered its desirability as an inflation hedge, while investors seemed to ignore the Federal Reserve’s imminent interest rate hike and a healthier dollar.

    By 12:40 pm. ET (1640 GMT), spot gold had risen 0.6 per cent to $1,978.81 per ounce, after reaching its highest level since March 14 at $1,979.95. Gold futures in the United States (US) increased 0.3 per cent to $1,982.6.

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    Bullion prices surged $22 per ounce on the global market, settling at $1,977 per ounce. When compared to the Dubai market, gold prices in Pakistan are approximately Rs5,000 cheaper.

  • Gold loses shine, price drops by Rs2,000 to Rs132,300 per tola

    Gold loses shine, price drops by Rs2,000 to Rs132,300 per tola

    Gold prices fell sharply in the local market on April 8, following the US dollar’s loss of value versus the rupee.

    The price of precious yellow metal dropped by Rs2,000 to Rs132,300 a tola (11.66 grams). Similarly, the cost of 10 grammes of gold decreased by Rs1,715 to Rs113,426. On the flip side, it jumped from $6 to $1,933 per ounce (28.3 gram) on the global market.

    The yellow metal in Karachi is reportedly selling for as low as Rs129,400, while 10 grams is being sold at Rs110,940. This rate for 24K gold announced by the Sarafa Bazar Association is also followed by the majority of gold markets in cities including Lahore, Islamabad, Peshawar, Quetta, and Karachi.

    The Pakistani rupee (PKR) gained Rs3.50 yesterday against the US dollar, making it the greatest single-day gain since April 2020. The local currency is currently trading at Rs184.68.

    During inter-day trading on April 7, the domestic unit crossed the Rs189 threshold, notwithstanding the political uncertainty. However, following a Rs2.5 depreciation, it concluded at Rs188.18.

    The gold correction had been overdue for a long time, since the political turmoil had created widespread panic, and individuals were transferring their capital to gold, as various rules had made it difficult for everyone to buy dollars.