Tag: Per Tola

  • Gold price sees Rs1,700 per tola dip on last trading day

    Gold price sees Rs1,700 per tola dip on last trading day

    In the final trading session of the week, the per-tola price of 24 karat gold in Pakistan witnessed a notable decrease, sliding by Rs1,700. The precious metal was traded at Rs216,000, compared to its previous rate of Rs217,700.

    Similarly, the price of 10 grammes of 24 karat gold experienced a decline of Rs1,458, settling at Rs185, as opposed to its earlier value of Rs186,643.

    Meanwhile, the prices of 10 grammes of 22-karat gold also observed a dip, reaching Rs169,753 from Rs171,089, according to a report by the All Sindh Sarafa Jewellers Association.

    The per-tola and ten-gramme silver prices remained unchanged, standing at Rs2,600 and Rs2,229.08, respectively.

    On the global front, the price of gold faced a decrease of $15 in the international market, falling to $2,059 from its previous value of $2,074, as reported by the Association.

    These fluctuations in the precious metals market highlight the dynamic nature of the economic landscape, influencing both domestic and international trade.

    Investors and consumers alike are keeping a close eye on these developments as they navigate the ever-changing market conditions.

  • Gold price in Pakistan settles at Rs216,800 per tola

    Gold price in Pakistan settles at Rs216,800 per tola

    In a noteworthy shift, the per-tola price of 24 karat gold witnessed a decrease of Rs1,800, settling at Rs216,800 on Saturday.

    This marks a discernible drop from its previous standing of Rs218,600 during the last trading day.

    Similarly, the cost of 10 grammes of 24 karat gold experienced a dip of Rs1,543, now standing at Rs185,871 as opposed to its previous valuation of Rs187,414.

    Meanwhile, the prices of 10 grammes of 22-karat gold also exhibited a downward trend, reaching Rs170,382 from Rs171,796, as reported by the All Sindh Sarafa Jewellers Association.

    Contrastingly, the prices of silver remained unchanged, with per tola and ten gramme silver holding steady at Rs2,670 and Rs2,289.09, respectively.

    Taking a broader perspective, the international gold market saw a decline as well, with the price of gold dropping by $15 to $2,040 from its previous position at $2,055, according to the latest report from the Association.

    This shift in the precious metals market has sparked interest and attention within financial circles.

  • 24 karat gold price drops by Rs3,000 per tola 

    24 karat gold price drops by Rs3,000 per tola 

    On Saturday, the price of 24 karat gold per tola experienced a decrease of Rs3,000, reaching Rs215,600 as compared to its previous value of Rs218,600 on the last trading day. 

    Similarly, the cost of 10 grammes of 24 karat gold saw a decline of Rs2,572, settling at Rs184,842 from its earlier rate of Rs187,414. 

    The price of 10 grammes of 22-karat gold also decreased, falling to Rs169,439 from Rs171,786, according to the All Sindh Sarafa Jewellers Association. 

    Meanwhile, the prices of silver remained unchanged, with per tola and ten grammes priced at Rs. 2,600 and Rs2,229.08, respectively. 

    In the international market, the cost of gold experienced a drop of $26, reaching $2,024 from its previous value of $2,050, as reported by the Association. 

  • Gold prices hit an all-time high of Rs152,000 per tola

    Gold prices hit an all-time high of Rs152,000 per tola

    On Wednesday, the price of gold in Pakistan rose to an all-time high, reaching Rs152,000 per tola, primarily as a result of increased demand and the weakening of Pakistani rupee (PKR).

    Just on Wednesday, gold prices increased by Rs2,500. The price per tola has climbed by a total of Rs10,900 since July 1 with the most recent hike.

    Pakistan often follows the trajectory of the global market for bullion and other precious metals. A declining rupee, however, has altered the situation.

    According to Akhtar Tesori, chairman of the Pakistan Gems Jewellery Traders and Exporters Association (PGJTEA), demand for gold jewelry was significantly decreased in the country during the past several months.

    In the interbank market on Wednesday, the rupee finished at Rs236.02. This is a new record low for the rupee versus the US dollar.

    The cost of silver in the domestic market remained steady at Rs1,600 for a tola and Rs1,371.74 for a gramme.

  • Gold surges to Rs147,250 per tola in local market

    Gold surges to Rs147,250 per tola in local market

    On Monday, gold prices in the local market rose by Rs1,450 per tola to a new all-time high, pushed up by the Pakistani currency’s continued depreciation against the US dollar.

    Despite no change in gold rates in the international market, gold rates in the local market increased to Rs147,250 per tola, according to data released by the All Sindh Saraf Jewelers Association. Similarly, the price of a gramme of gold increased by Rs1,243 to Rs126,243.

    However, gold prices on the international market remained unchanged at $1,840 per ounce.

    The price of silver per tola remained unchanged at Rs1,560. The price of a gramme of silver also remained unchanged at Rs1,337.44. When compared to rates in the Dubai gold market, local jewellers said prices in the local market remained below Rs3,000 per tola.

    Pakistani rupee dips to new lows

    Experts predict that the Pakistan rupee will continue to fall against the US dollar and other major currencies owing to concerns regarding the IMF’s $6 billion program’s restoration, the country’s expanding current account deficit, and dwindling foreign exchange reserves.

    The PKR which lost 32.5 per cent of its value in the current financial year 2021-22 is forecasted to remain under stress as the dollar is in high demand in the market due to economic crises.

    The central bank appears helpless to stem the rupee’s speculative fall, as demand for the US dollar continues to rise due to quarter-end payment strain.