Tag: silver prices

  • Gold price drops by Rs600 to Rs215,700 per tola in Pakistan

    Gold price drops by Rs600 to Rs215,700 per tola in Pakistan

    In Monday’s trading, the per-tola price of 24 karat gold in Pakistan witnessed a decrease, dropping by Rs600 to Rs215,700, as reported by the All Sindh Sarafa Jewellers Association. 

    This marks a slight dip compared to its previous sale at Rs215,300.

    Similarly, the cost of 10 grammes of 24 karat gold experienced a decline of Rs514, settling at Rs184,071, down from Rs184,585. The price of 10 grammes of 22 karat gold also saw a reduction to Rs168,731 from Rs169,203.

    Meanwhile, the silver market remained stable, with the per tola and ten-gramme prices maintaining their positions at Rs2,600 and Rs22,229.08, respectively.

    On the international front, the price of gold took a downward turn, decreasing by $8 to $2,042 from $2,050, according to the association’s report.

  • Gold prices surge in Pakistani market, 24-karat hits Rs216,500 per tola

    Gold prices surge in Pakistani market, 24-karat hits Rs216,500 per tola

    On Friday, the domestic bullion market saw a modest increase, with the price of 24-karat gold in Pakistan rising by Rs200 per tola to reach Rs216,500.

    The Karachi Sarafa Association noted that the price of 10-gramme 24-karat gold reached Rs185,614, indicating a gain of Rs172, while the 10-gramme 22-karat gold stood at Rs170,146.

    In contrast, silver remained steady in the local market, with 24-karat silver being sold at Rs2,650 per tola and Rs2,271.94 per 10-gramme.

    On the global scale, international spot gold is currently trading at 2,036.75, marking an increase of $8.55 or 0.4% for the day.

    Notably, when the Karachi Sarafa Association reported local rates, the spot rate in the international market had seen a slight uptick of $4.

  • Gold sees Rs1,800 per tola dip in local market

    Gold sees Rs1,800 per tola dip in local market

    Gold continued its decline for the second consecutive session on Thursday, mirroring the international downtrend.

    In the local market, the price of gold reached Rs218,200 per tola, registering a loss of Rs1,800 during the day.

    According to data from the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gramme gold was traded at Rs187,071, reflecting a decrease of Rs1,543.

    Notably, Wednesday witnessed a Rs1,300 decrease in gold prices per tola in Pakistan.

    The international gold rate, accompanied by a $15 decline in the global market, stood at $2,067 per ounce on Thursday, with a $20 premium, as reported by APGJSA.

    In a parallel development, silver experienced a modest decline of Rs20, settling at Rs2,660 per tola.

  • Gold price in Pakistan goes up by Rs1,600 per tola

    Gold price in Pakistan goes up by Rs1,600 per tola

    On Tuesday, gold prices in Pakistan experienced a notable surge, aligning with the upward trend in the global market.

    The precious metal reached a valuation of Rs221,300 per tola in the domestic market, marking a substantial gain of Rs1,600 throughout the day.

    As reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold was traded at Rs189,729 after witnessing an increase of Rs1,372. This movement follows a Rs300 decrease per tola in gold prices on the preceding Monday.

    In the international arena, gold exhibited a rise of $12 on Tuesday, reaching $2,094 per ounce with an additional premium of $20, as communicated by APGJSA.

    Conversely, silver maintained stability at Rs2,680 per tola in the local market amidst these fluctuations in gold prices.

  • 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 increases to Rs218,600 per tola

    Gold price in Pakistan increases to Rs218,600 per tola

    Gold prices in Pakistan experienced a marginal uptick on Friday, with the value of 24-karat gold climbing by Rs300 per tola, concluding the session at Rs218,600.

    According to the Karachi Sarafa Association, the closing rate for 10-gramme 24-karat gold in today’s session reached Rs187,414, marking an increase of Rs257.

    Simultaneously, the price of 10-gramme 22-karat gold reached Rs171,796, reflecting a rise of Rs235.

    In the domestic market, silver prices also saw an upward trend, with 24-karat silver and 10-gramme 24-karat silver settling at Rs2,670 and Rs2,289.09, respectively.

    It is noteworthy that the domestic bullion market displayed a robust recovery in the previous session after enduring five consecutive losses, resulting in a cumulative loss of Rs6,300 for 24-karat gold.

    This surge was attributed to a rally in international markets, which persisted today, contributing to gains in the domestic market.

    As of the latest update, international spot gold is trading at $2,041.17, reflecting a 0.26 per cent increase for the day.

    The ongoing upward trajectory in international gold prices is influenced by the recent statement from the US Federal Reserve, which indicates a cumulative rate cut of 75 basis points in 2024.

  • 24-karat gold price plunges by Rs1,800 per tola, reflecting global market trends

    24-karat gold price plunges by Rs1,800 per tola, reflecting global market trends

    On Tuesday, the price of gold experienced a further decline, with 24-karat gold witnessing a decrease of Rs1,800, settling at Rs213,600 per tola.  

    The Karachi Sarafa Association indicated that the closing rate for 10 grammes of 24-karat gold in today’s session was Rs183,128, reflecting a loss of Rs1,543.  

    Simultaneously, 10 grammes of 22-karat gold registered a decline to Rs167,867, down by Rs1,415. 

    Last week, gold investors in the domestic bullion market faced a significant setback when the price of 24-karat gold plummeted by Rs8,000 per tola.  

    This drop was attributed to a notable decrease in international prices and the strengthening of the local currency. 

    In contrast, the price of silver remained stable in the domestic market today, with 24-karat silver and 10 grammes of 24-karat silver closing at Rs2,600 and Rs2,229.08, respectively.  

    The downturn in the local market is linked to the ongoing decline in international prices. 

    The international spot gold market experienced a 1.04 per cent decrease this week, currently standing at $1,994.46.  

    This decline is influenced by the pressure stemming from a stronger dollar and increased US Treasury yields, marking the second consecutive session in which the commodity has traded in the red zone. 

    Market participants are eagerly anticipating the US consumer price report scheduled for 05:30 pm PST today.  

    This report could offer valuable insights into potential rate cuts ahead of the Federal Reserve’s statement and Chair Jerome Powell’s comments on Wednesday. 

    In the domestic market, gold prices are also susceptible to fluctuations in the local exchange rate.  

    Rupee remains stable against US dollar

    During yesterday’s interbank session, the Pakistani rupee (PKR) maintained stability, settling at PKR 283.9 per USD, representing a marginal depreciation of around 3 paisa against the US dollar compared to the previous session’s closing of PKR 283.87 per USD.  

    As gold is denominated in US dollars, a strengthening local unit contributes to a decrease in the value of PKR-denominated gold.