Tag: gold price

Gold prices took a tumble on Monday, momentarily ending the hot streak the precious metal was on. As per credible reports, an upward trend had been witnessed over several sessions, pushing the price of the commodity to a record high of Rs 340,600 per tola on Saturday.

However, gold was unofficially trading as high as Rs 345,000 per tola in the domestic market, as many believed that the commodity was poised to appreciate even more, given international geopolitical factors. With the US-China trade war escalating, gold’s status as a safe haven investment improved, causing the metal to summit new peaks.  

Data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) indicates that the value of one tola 24 karat gold now sits at Rs 338,800 after witnessing a fall of Rs 1800. The price of 10 grams 24 karat gold recorded a fall of Rs 1543, coming to rest at Rs 290,466.

Gold prices in the international market have fallen marginally as well. As of reporting, the price of gold across various trading platforms stood at approximately $3223.57 per troy ounce (including a premium of $20, recording a drop of $12.49). However, many believe that the price of gold could resume its climb if tensions build up between the US and China. 

Analysts believe that market corrections are in effect now, pushing the value of gold downwards after the commodity peaked. Reports reveal that the price of the yellow metal rose unrestricted by approximately 10 percent in under a week.

While the price of the commodity sits comfortably above $3200 per troy ounce, analysts have reportedly suggested that it could ‘test further support zones’ as low as $3,050 per troy ounce. 

However, the price of gold may not deviate substantially as trading activities in the international market are likely to witness a drop owing to market closures amid holidays for Easter weekend and Good Friday. Until markets resume trading activities, trading volumes are unlikely to post any remarkable jumps.

The drop in gold prices comes despite the rupee recording a depreciation against the greenback. A weaker rupee implies that the price of gold should rise. 

However, international trends have proven to be more powerful, allowing for the price of gold to log a drop. Had the rupee held steady, gold prices would have recorded an even sharper fall.

The seemingly never-ending joyride of gold prices continues, climbing to a whopping Rs336,800 per tola in what has been dubbed as the highest single-day spike over the past few months.

According to reports, the surge in domestic prices is a result of a “sharp rally” in global markets as international factors continue to drive the price of the precious metal upward.

Gold is becoming the go-to safe haven investment as the US-China trade war escalates, reaching new peaks. Reports indicate that China has imposed a staggering 84 percent tariff on all US goods entering the country. However, this has not sit well with the Trump administration that continues to wage the trade war.

The US has responded to China’s tariffs by levying additional tariffs of their own, bringing the total tariff rate on Chinese goods up to an extortionate 145 percent. Independent analysts predict that these developments do not have any positive ending for either the US or China.

The trade war has resulted in a bloodbath across global capital markets as stock markets took a tumble amid shrinking investor confidence because of uncertainty.

Analysts have outlined how recent corrections in global gold rates are unprecedented, far exceeding the normal corrections that usually sit in the $20 to $30 range. Domestic gold prices have also witnessed a Rs16,000 surge in two waves.

Information from the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) indicates that gold rates initially surged by Rs7,800 per tola. While this price hike translates into a healthy return for speculators holding gold, the precious metal witnessed a second, even larger, spike of Rs8,000.

Data from a reputable database indicates that gold rates have surged by $594.29 per troy ounce since the beginning of 2025. This marks a 22.65 percent rise in the price of a troy ounce of gold in the aforementioned period. For reference, one troy ounce is equivalent to approximately 2.44 tolas. 

As of reporting, the price of gold across various trading platforms stood at approximately $3,213 per troy ounce. Many believe that the price of gold could continue to surge if the US and China do not reach an amicable solution. 

In the event that ties between the two economic giants normalise, investors may pull funds out of gold, and park them into capital markets again. With people looking to purchase gold for the next marriage season, many would be interested in seeing the price of the commodity fall.

Recent reports have also suggested that gold shops have seen lower traffic as the extortionately high prices have pushed it out of reach for many. The high prices have caused a loss to both small jewelry store owners and those interested in getting wedding jewelry made.

Owing to international factors, domestic gold rates have reached an all-time high, trading at Rs275,205 per 10 grams and Rs321,000 per tola.

According to data, the current rate of one tola of gold indicates a Rs3,200 rise from its previous value in a single day. Reports suggest that the sudden uptick in prices is linked to the imposition of additional tariffs by United States (US) President Donald Trump on imported goods.

Aside from Trump’s 25 percent tariff on imported vehicles, geo-political tensions have also been creeping up, causing the price of the commodity to surge by $31 in the international market with prices now resting close to $3,052 per ounce.

While rising gold prices spell great news for those with large quantities of the commodity, the same cannot be said for domestic gold traders. This is because local traders have witnessed a substantial fall in sales volume as the price of gold has surged beyond the general public’s reach.

The drop in affordability has caused local traders to worry as they believe a sizable volume of the commodity is still being exchanged but only because of independent speculators and investors. However, independent analysts believe that this might not be the case as there are significant issues that come with owning gold.

According to a senior official from a reputable investment company, investing in gold comes with problems linked to the verification, transfer and physical custody of the commodity. As such, analysts believe that a majority of Pakistanis have not fully embraced the gold wave and prefer to park their funds elsewhere – in more conventional areas such as real estate, mutual funds, banks and national savings schemes.

Moreover, the general public also has a tendency to lean towards purchasing foreign currency instead of gold to protect their savings as foreign currencies are a safe hedge against inflation and other uncertainties that arise because of macroeconomic instability.

Domestic prices are set by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), which also considers interbank rates. However, these rates have reportedly not changed much over the past year, implying that the brunt of the price change is mostly because of international factors.

As per the chairman of APSGJA, gold sales surge before Eidul Fitr; however, in the days leading up to Eid, sales have plummeted to a historic low.

On Wednesday, gold price rose by a massive Rs2,900 per tola in the local market, reaching Rs287,900.

The latest rate marks the highest gold price ever recorded in the history of Pakistan.

Today’s gold price is also Rs2,500 higher than the previous record high, which was observed last week when the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) quoted gold at Rs285,400 per tola.

Additionally, the price of ten grammes of gold has also risen in the local market, with APGJSA reporting it at Rs246,828 after a single-day jump of Rs2,486. The price of one gramme of gold in the country now stands at Rs24,682.8.

Previously, the rate of one gramme of gold in the local market was Rs22,196.

This increase was not only observed in Pakistan, as international gold prices also saw a rise. The APGJSA reported that on Wednesday October 30 the price of gold rose by $29 internationally, reaching $2,784.

Meanwhile, silver prices in the country remained stable once again, with the price per tola recorded at Rs3,350.

Gold price in Pakistan resumed its record high run on Wednesday and surpassed the Rs285,000 per tola mark for the first time in history.

According to All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the latest increase comes after the 24-karat gold price witnessed a single-day gain of Rs2,000, bigger than the increase it witnessed on the previous trading day, closing Tuesday’s session at Rs285,400 per tola.

The price of ten-gramme gold was also seen up by Rs1,714, clocking in at Rs244,684.

Internationally, the yellow metal’s rate surged by $20 to $2,757 per ounce. This price also includes a premium of $20.

Experts say that the latest surge in global and local bullion markets is due to conflicts in the Middle East and confusion regarding the upcoming elections in the US.

In such circumstances, gold is seen as a hedge against economic and geopolitical uncertainties.

The price of gold in Pakistan is currently Rs65,700 per tola up since the start of this calendar year. For those unaware, the price of gold, according to APGJSA, on the first trading day of 2024 was recorded at Rs219,700 per tola.