Tag: precious metals

  • 24-karat gold price in Pakistan increases by Rs1,000 per tola

    24-karat gold price in Pakistan increases by Rs1,000 per tola

    On Wednesday, the gold price in Pakistan experienced notable gains, with the 24-karat gold increasing by Rs1,000 per tola, reaching Rs220,600. 

    The Karachi Sarafa Association reported a gain of Rs857 for the 10-gramme 24-karat gold, priced at Rs189,129, while the 10-gramme 22-karat gold stood at Rs173,369.

    It’s worth mentioning that 24-karat gold had risen by Rs2,500 per tola the previous week. 

    Additionally, silver prices saw an uptick today, with 24-karat silver and 10-gramme 24-karat silver gaining Rs30 and Rs25.72, respectively, being sold at Rs2,680 and Rs2,297.66.

    Internationally, spot gold is currently trading at $2,066.85, marking a 0.04 per cent increase, while spot silver is at $24.13, reflecting a -0.25 per cent change.

    Notably, fluctuations in global prices, coupled with shifts in the interbank exchange rate of the Pakistani rupee, impact the domestic gold market. 

    The PKR is maintaining its winning streak against the US dollar, trading at PKR 281.98/282.37 per USD in its 11th consecutive session.

  • Gold soars in Pakistani markets: Local rates surge despite stable global prices

    Gold soars in Pakistani markets: Local rates surge despite stable global prices

    On Tuesday, gold rates in Pakistan experienced an ascent, reaching Rs219,600 per tola in the domestic market, reflecting a gain of Rs300 throughout the day. 

    The 10-gramme gold price in Pakistan rose to Rs188,272, marking a Rs258 increase, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA). 

    In contrast, international gold prices maintained stability at $2,072 (with a premium of $20), as noted by the APGJSA. 

    Notably, silver retained its position at Rs2,650 per tola in the local market.

  • Gold prices in Pakistan see weekend dip, reflecting global trend

    Gold prices in Pakistan see weekend dip, reflecting global trend

    On Saturday, gold prices in Pakistan experienced a decline, aligning with the global trend.

    The cost of one tola of gold in domestic market dropped by Rs500, settling at Rs219,300. 

    Similarly, the 10-gramme gold rate decreased by Rs429, reaching Rs188,014, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    Contrastingly, the previous day witnessed a surge in gold prices by Rs1,800, concluding at Rs219,800 per tola in Pakistan. 

    The international gold rate, despite a $2 decrease, stood at $2,072 per ounce, maintaining a $20 premium, as indicated by APGJSA.

    In the midst of these fluctuations, silver rates remained unchanged at Rs2,650 per tola.

  • Gold price hits Rs219,800 per tola after an increase of Rs1,800

    Gold price hits Rs219,800 per tola after an increase of Rs1,800

    In a notable uptrend, domestic gold prices in Pakistan experienced significant gains on Friday, with the price of 24-karat gold rising by Rs1,800 per tola and concluding the session at Rs219,800.

    According to the Karachi Sarafa Association, the closing price for 10 grammes of 24-karat gold in today’s session was Rs188,443, marking an increase of Rs1,543.

    Similarly, the price for 10 grammes of 22-karat gold reached Rs172,740, showing a gain of Rs1,415.

    Contrastingly, the price of silver remained steady in the local market, with 24-karat silver and 10-gramme 24-karat silver settling at Rs2,650 and Rs2,271.94, respectively.

    The continuous surge in international gold prices is a driving force behind the upward trajectory of gold prices in the domestic market.

    Currently, international spot gold is trading at $2,055.91, indicating a 0.48 per cent increase compared to the previous session’s closing.

    Furthermore, international gold is set for its second consecutive weekly gain, influenced by the weakening dollar and US Treasury yields.

    The recent statement from the US Federal Reserve, outlining a cumulative rate cut of 75 basis points in 2024, is putting sustained pressure on the dollar and Treasury yields, contributing to further gains for the precious metal.

    In addition to the impact of international price fluctuations, the domestic gold market is also susceptible to changes in the interbank exchange rate of the local currency.

    The intricate interplay between global and domestic factors continues to shape the dynamics of the gold market in Pakistan.

  • Vin Diesel faces 2010 sex assault claim by former assistant

    Vin Diesel faces 2010 sex assault claim by former assistant

    Action star Vin Diesel has been accused of sexually assaulting his assistant in an Atlanta hotel room over a decade ago, according to a lawsuit filed Thursday. The suit is the latest claim to be lodged with courts in California, which has extended the length of time in which legal action can be taken in cases of alleged sexual crimes.

    Asta Jonasson said her first assignment after being hired by the Fast and Furious star’s company was to travel to Atlanta in September 2010 during the filming of Fast Five. There, she was tasked with helping Diesel leave a hotel in the early morning hours after entertaining multiple women in a suite, before paparazzi were alerted to his whereabouts.

    “Alone in the hotel suite with him, Vin Diesel sexually assaulted Ms Jonasson. Vin Diesel forcibly grabbed Ms Jonasson, groped her breasts, and kissed her. Ms Jonasson struggled continually to break free of his grasp, while repeatedly saying no. “Vin Diesel then escalated his assault,” the suit said, with the actor trying to pull down his assistant’s underwear.

    The suit stated that Jonasson fled to a bathroom, where Diesel pursued her, and forced her to touch him. He then pinned her against a wall and masturbated. The following day, Samantha Vincent, the actor’s sister and president of One Race, the entertainment company that employed Jonasson, allegedly called and fired her.

    “The message was clear. Ms Jonasson was fired for courageously resisting Vin Diesel’s sexual assault, Vin Diesel would be protected, and his sexual assault covered up,” the suit said. The civil suit seeks unspecified damages against Diesel, Vincent and their companies.

    Diesel’s lawyer Bryan Freedman said his client “categorically denies this claim in its entirety” and that there is evidence that “completely refutes” the allegations, according to a statement published by Variety. Representatives for Diesel did not immediately respond to AFP requests for comment. Jonasson has waived the right to anonymity customarily granted to victims of alleged sex abuse.

    The global #MeToo movement has seen powerful men in the world of entertainment punished for their abusive and predatory behaviour, starting with bombshell allegations against industry titan Harvey Weinstein in 2017 that led to his imprisonment on multiple sex assault convictions.

  • Gold price in Pakistan dips to Rs218,000 per tola

    Gold price in Pakistan dips to Rs218,000 per tola

    In a reversal of its recent upward trend, the price of gold in Pakistan saw a decline on Thursday, with the value of 24-karat gold dropping by Rs500 per tola and settling at Rs218,000.

    According to the Karachi Sarafa Association, the closing price for 10-gramme 24-karat gold in today’s session was recorded at Rs186,900, indicating a loss of Rs428.

    Additionally, the price of 10-gramme 22-karat gold stood at Rs171,325.

    Meanwhile, silver prices remained unchanged in the domestic market, with 24-karat silver and 10-gramme 24-karat silver concluding at Rs2,650 and Rs2,271.94, respectively.

    This decline in gold prices follows three consecutive sessions of steady increases, aligning with the continuous uptick in international gold prices.

    However, today’s downturn is attributed to a drop in global gold prices and the relative strengthening of the Pakistani rupee (PKR).

    The international spot gold market experienced a decrease of approximately $8.5 in the previous session, driven by a rebound in the U.S. dollar.

    Presently, spot gold is trading at $2,037.14, marking a 0.25% increase for the day as the dollar faces renewed pressure.

    Despite the gains observed today, they are not substantial enough to offset yesterday’s decline, resulting in an overall loss for the local bullion market.

    The market remains sensitive to fluctuations in both international gold prices and the strength of the Pakistani rupee.

  • Gold prices surge in Pakistan: 24-karat soars to Rs217,600 per tola

    Gold prices surge in Pakistan: 24-karat soars to Rs217,600 per tola

    The price of 24-karat gold per tola witnessed a surge, rising by Rs400 and reaching Rs217,600 on Tuesday, as compared to its previous closing at Rs217,200.

    Similarly, the cost of 10 grammes of 24-karat gold also experienced an uptick, increasing by Rs343 to Rs186,557 from Rs186,214.

    Meanwhile, the rates for 10 grammes of 22-karat gold climbed to Rs171,011 from Rs170,696, as reported by the All Sindh Sarafa Jewellers Association.

    In contrast, both the per-tola and 10-gramme silver prices remained stable at Rs2,670 and Rs2,289.09, respectively.

    On a global scale, the price of gold saw an increment of $4, reaching $2,047 from $2,043, according to the Association.

    Simultaneously, the Pakistan Stock Exchange (PSX) witnessed a significant downturn in intra-day trading on Tuesday, with the benchmark KSE-100 index plummeting by over 2,600 points.

    The PSX reported a loss of 2,633 points, causing the 100 index to dip below the 63,000-point threshold, trading at 62,571 around 2:30 pm.

    This decline comes after a sustained bullish trend lasting over a month, which followed the successful conclusion of a staff-level agreement with the International Monetary Fund (IMF).

    Market analysts attribute the bearish trend to stocks in the exploration and production (E&P), fertiliser, and banking sectors.

    Throughout the session, profit-taking was evident, contributing to the index fluctuating by over 2,500 points.

  • 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.

  • Gold price in Pakistan experiences massive single-day gain of Rs5,700 per tola

    Gold price in Pakistan experiences massive single-day gain of Rs5,700 per tola

    In a significant development, gold staged a recovery from its recent five-session decline in Pakistan on Thursday, driven by a surge in the global market.

    The domestic market witnessed a notable upswing in gold prices today, surging to Rs218,300 per tola after a massive single-day gain of Rs5,700 per tola.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold price in Pakistan experienced a surge, reaching Rs187,157 after a significant uptick of Rs4,887.

    This marks a considerable shift from Wednesday’s scenario, when gold prices in Pakistan witnessed a decline of Rs1,000 per tola.

    Internationally, the gold market reflected this positive momentum, setting the rate at $2,052 per ounce with a $20 premium on Thursday. This uptick translated into a $54 increase in the international market, as reported by APGJSA.

    Simultaneously, silver rates observed an upward trend, climbing by Rs70 and settling at Rs2,650 per tola.

    While these developments unfolded in the precious metal markets, the Pakistan Stock Exchange experienced a tumultuous Wednesday, initially plummeting by over 1,900 points.

    Despite the initial setback, the market rebounded, ultimately concluding the business day with a loss of over 1,100 points.

    The benchmark KSE-100 index kicked off Thursday’s session on a pessimistic note, extending its downward trajectory to revisit the previous day’s lows of approximately 64,400.

    However, buyers intervened, successfully defending this level once again.

    The index maintained a rangebound pattern for the remainder of the session, closing at 65,450.19, marking an increase of 170 points or 0.26 per cent day-over-day.