Tag: per Tola rate

  • Second consecutive decline: Gold price drops by more than Rs6,000 per tola

    Second consecutive decline: Gold price drops by more than Rs6,000 per tola

    The price of gold in Pakistan fell for the second consecutive day on Tuesday, as the rupee depreciated against the US dollar. The price of 24 karat gold decreased by Rs6,300 per tola (11.66 grammes) and Rs5,402 per 10 grammes, to settle at Rs232,800 and Rs199,588, respectively.

    The decline in gold prices was in line with the fall in the international market, where the price of gold fell by $9 to settle at $1,931 per ounce. The gold rate has been volatile in Pakistan recently due to political and economic uncertainty, and high inflation.

    The price of silver also fell by Rs100 per tola and Rs85.74 per 10 grammes, to settle at Rs2,800 and Rs2400.5, respectively.

    The depreciation of the rupee against the dollar is the main reason for the decline in gold prices in Pakistan. When the rupee weakens, gold becomes more expensive for buyers in Pakistan, who have to pay more rupees to buy the same amount of gold.

    The political and economic uncertainty in Pakistan is also a factor that is contributing to the volatility of gold prices. Investors are unsure about the future of the country, and they are looking to gold as a safe haven investment. This demand for gold is pushing up prices.

    The high inflation in Pakistan is also making gold more expensive. When inflation rises, the value of the rupee decreases, which makes gold more expensive for buyers in Pakistan.

    Overall, the gold rate in Pakistan is expected to remain volatile in the near future due to the factors mentioned above.

  • Gold price hits historic high of Rs169,650 per tola in Pakistan

    Gold price hits historic high of Rs169,650 per tola in Pakistan

    On Monday, the price of gold in Pakistan reached an all-time high of Rs169,650 a tola as investors continued to seek refuge in the safe-haven metal due to growing worries that the country’s economic situation will become worse.

    According to Geo, the rates of gold increased by Rs2,350 per tola and Rs2,016 per 10 grams, respectively, according to statistics supplied by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). These prices eventually reached an all-time high of Rs169,650 and Rs145,448.

    Gold has reached many heights recently and concluded the week at Rs167,300 per tola after rising by Rs4,000, or 2.49 per cent, during the week that ended December 10.

    In the meantime, silver prices rose over the key Rs1,900 per tola mark. Price increases of Rs80 per tola and Rs68.58 per 10 grams brought the price to an all-time high of Rs1,970 and Rs1,688.95.

    Investors’ attention has switched to gold as a result of the dollar scarcity since the price of yellow metal is also increasing on the global market.

  • 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 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.