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Tag: gold price

  • 24-karat gold price drops by Rs1,500 to Rs241,200 per tola

    24-karat gold price drops by Rs1,500 to Rs241,200 per tola

    On Thursday, gold prices in Pakistan saw a significant decline, with the cost of 24-karat gold dropping by Rs1,500 to settle at Rs241,200 per tola.

    This decrease is noteworthy as the current price is kept Rs3,000 below its actual value, reflecting reduced purchasing power among consumers.

    The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes fell by Rs1,286 to Rs206,790. Similarly, the price of 22-karat gold decreased, now quoted at Rs189,558 per 10 grammes.

    In contrast, silver prices remained stable. The price for 24-karat silver was unchanged at Rs2,900 per tola and Rs2,486.28 per 10 grammes.

    On the international market, spot gold was trading near $2,333 an ounce, marking a 0.22 per cent decline from the previous session. This downturn is largely influenced by investor sentiments regarding the potential for U.S. interest rate cuts.

    A key inflation report due later in the week has added to the market’s cautious outlook.

    Recent minutes from the Federal Reserve’s policy meeting indicated a commitment to maintaining higher interest rates for an extended period to combat persistent inflation.

    This policy stance is seen as bearish for gold, as higher interest rates increase the opportunity cost of holding non-yielding assets like gold, reducing its appeal.

    As economic conditions remain volatile, both local and international gold markets continue to respond to shifts in monetary policy and consumer demand.

  • Gold price plummets by Rs1,900 per tola in Pakistan amid global decline

    Gold price plummets by Rs1,900 per tola in Pakistan amid global decline

    Gold prices in Pakistan fell on Tuesday, reflecting a drop in international rates. The price of gold per tola in the local market declined by Rs1,900, settling at Rs248,500, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    Similarly, the price of 10 grammes of gold decreased by Rs1,630, bringing it down to Rs21,048.

    This decline comes after a significant increase on Monday, when gold prices surged by Rs2,300 per tola in Pakistan.

    Internationally, the gold rate saw a decrease on Tuesday. According to APGJSA, the global price of gold was set at $2,418 per ounce, inclusive of a $20 premium, following a $21 drop during the day.

    In contrast, silver prices remained unchanged, holding steady at Rs2,850 per tola.

    Just last month, gold prices in Pakistan reached a record high of Rs252,200 per tola, marking an all-time peak in the local market.

  • Gold prices rebound, increasing by Rs2,900 per tola

    Gold prices rebound, increasing by Rs2,900 per tola

    Gold prices in Pakistan experienced a notable turnaround on Wednesday, bouncing back after a downward trend observed over the past three sessions.

    This resurgence coincided with a global uptick in gold rates. In local markets, the price of gold per tola surged to Rs244,000, marking a substantial single-day increase of Rs2,900.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grammes of gold reached Rs209,191 following a rise of Rs2,487.

    Internationally, the price of gold also witnessed a rise during the day. APGJSA reported an international rate of $2,365 per ounce, with an additional premium of $20, reflecting an increase of $28.

    In contrast, silver prices remained steady at Rs2,650 per tola.

    Notably, the local gold market had reached a record high last month, with prices hitting Rs252,200 per tola.

    This positive turn comes after a decrease of Rs1,200 per tola observed on Tuesday in the gold prices in Pakistan.

  • Gold price in Pakistan dips by Rs1,200 per tola

    Gold price in Pakistan dips by Rs1,200 per tola

    Gold prices in Pakistan witnessed a decline on Monday, mirroring the downward trend in the international market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market saw a decrease in the price of gold per tola by Rs1,200, settling at Rs242,300 after a single-day fall.

    Similarly, the price of 10 grammes of gold dropped to Rs207,733, marking a decrease of Rs943, as reported by APGJSA.

    The international gold rate, as per APGJSA figures, was set at $2,349 per ounce, with a $20 premium, experiencing a $10 decrease during the day.

    In contrast, silver prices remained steady at Rs2,650 per tola.

    The recent decline comes after gold reached a record high of Rs252,200 per tola in the local market last month. Notably, on Saturday, gold prices in Pakistan had decreased by Rs300 per tola.

    The fluctuation in gold prices reflects the ongoing dynamics in both domestic and global markets, impacting investors and consumers alike.

  • Gold price in Pakistan falls to Rs243,500 per tola reflecting global decline

    Gold price in Pakistan falls to Rs243,500 per tola reflecting global decline

    Gold prices in Pakistan saw a decline on Saturday, mirroring the downward trend observed in the global market.

    According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local market recorded a drop of Rs300 per tola, bringing the price to Rs243,500.

    For 10 grammes of gold, the price fell by Rs257, reaching Rs208,762, based on the rates shared by APGJSA.

    Internationally, the price of gold also experienced a decline on Saturday. APGJSA reported that the rate settled at $2,359 per ounce, with an additional premium of $20, marking a decrease of $7 throughout the day.

    In contrast, silver rates remained unchanged at Rs2,650 per tola.

    This decrease comes after a significant increase on Friday, where gold prices in Pakistan surged by Rs4,600 per tola.

    It’s noteworthy that just last month, gold reached an unprecedented high of Rs252,200 per tola in the Pakistani gold market, highlighting the volatility of precious metal prices in recent times.

  • 24-karat gold price remains unchanged at Rs239,200 per tola in local market

    24-karat gold price remains unchanged at Rs239,200 per tola in local market

    Gold prices in Pakistan held steady on Thursday, following two consecutive days of decline. The price for 24-karat gold was set at Rs239,200 per tola, unchanged from the previous session.

    In the last week, the price of 24-karat gold fell by Rs6,400 per tola, contributing to a cumulative loss of Rs14,200 per tola, or 5.63 per cent, over the past two weeks.

    According to the Karachi Sarafa Association, the price for 10 grammes of 24-karat gold remained at Rs205,075, while the price for 10 grammes of 22-karat gold stood at Rs187,986.

    Silver prices also remained steady in the domestic market, with 24-karat silver priced at Rs2,620 per tola and Rs2,254.8 per 10 grammes.

    Globally, the spot price of gold inched slightly downward. International spot gold was trading near $2,308.14 an ounce, down by 0.03 per cent compared to the previous trading session.

  • Gold price drops by Rs800 to Rs239,200 per tola

    Gold price drops by Rs800 to Rs239,200 per tola

    Gold prices in Pakistan continued their downward trend on Wednesday, with 24-karat gold losing Rs800 per tola and settling at Rs239,200.

    This drop follows a significant decline over the past two weeks, during which the price of 24-karat gold fell by Rs6,400 last week, bringing the total decrease to Rs14,200 per tola, a cumulative reduction of 5.63 per cent.

    According to the Karachi Sarafa Association, the price of 24-karat gold for 10 grammes dropped to Rs205,075, a decrease of Rs686 from the previous day. The price of 22-karat gold also decreased, with the 10-gramme rate quoted at Rs187,986.

    In contrast, silver prices remained steady in the domestic market. The price of 24-karat silver was unchanged at Rs2,620 per tola and Rs2,254.8 per 10-gramme.

    In the global market, spot gold continued to show weakness. It was trading near $2,311.76 an ounce, a decrease of 0.10 per cent compared to the previous close. This international dip contributed to the downward pressure on domestic gold prices.

    The recent declines in gold prices in Pakistan reflect broader trends in the international market, influenced by factors such as currency fluctuations, changes in demand, and global economic uncertainty.

    As a result, investors and consumers are keeping a close eye on these trends, watching for signs of further volatility or stability in the precious metals market.

  • Gold prices drop again in Pakistan, 24-karat gold loses Rs500 per tola

    Gold prices drop again in Pakistan, 24-karat gold loses Rs500 per tola

    Gold prices in Pakistan continued their downward trend on Tuesday, with the value of 24-karat gold dropping by Rs500 per tola, settling at Rs240,000.

    This decrease follows a substantial decline last week, when the price of 24-karat gold fell by Rs6,400 per tola. This marks a cumulative loss of Rs14,200 per tola, or approximately 5.63 per cent, over the past two weeks.

    The Karachi Sarafa Association reported that the price of 24-karat gold for 10 grammes also dropped by Rs429, reaching Rs205,761.

    The price of 22-karat gold was quoted at Rs188,615 per 10-gramme, reflecting the broader trend of falling gold prices in the domestic market.

    Silver prices, however, remained steady, with 24-karat silver maintaining a consistent rate of Rs2,620 per tola and Rs2,254.8 per 10-gramme, providing some stability in the otherwise volatile precious metals market.

    On the global front, international spot gold experienced a slight decline, trading near $2,314.5 per ounce, a 0.41 per cent drop compared to the previous session.

  • Gold price surges above Rs240,000 per tola

    Gold price surges above Rs240,000 per tola

    Gold prices in Pakistan experienced a rebound on Monday, following a steady decline over the past six trading sessions.

    This resurgence came as the international gold market saw a rise in prices. In the local market, the price of gold per tola surged by Rs2,500, reaching Rs240,500.

    Similarly, the price for 10 grammes of gold rose by Rs2,143, settling at Rs206,190, according to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

    The international gold market also recorded gains on Monday. According to APGJSA, the international gold price stood at $2,322 per ounce, with a premium of $20, after an increase of $21 during the day.

    This marked a turnaround from the downward trend that had been observed in recent days.

    In contrast, silver prices remained stable, with the rate for silver per tola steady at Rs2,620.

    Saturday saw a dip in local gold prices, with a decrease of Rs1,600 per tola.

    The recent rebound offers some relief to investors and jewellery buyers following a week-long decline, which saw gold prices drop by a total of Rs7,000 per tola over six consecutive sessions.

    It’s worth noting that just last month, gold prices in Pakistan reached a record high, with the cost per tola hitting Rs252,200.

    The recent fluctuations in gold prices underscore the volatility of the precious metals market and highlight the impact of international trends on local rates.

  • Gold price drops for sixth consecutive session, now at Rs238,000 per tola

    Gold price drops for sixth consecutive session, now at Rs238,000 per tola

    Gold prices in Pakistan continued to fall on Saturday, marking the sixth consecutive session of declines. The price per tola (a traditional South Asian unit equivalent to about 11.66 grammes) dropped to Rs238,000, following a single-day decrease of Rs1,600.

    According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for 10 grammes of gold also fell, closing at Rs204,047 after a reduction of Rs1,257. This downward trend follows a similar drop on Friday, when the price of gold fell by Rs1,400 per tola.

    While gold prices in Pakistan declined, the international market saw an uptick in gold rates. As per APGJSA, the global price of gold reached $2,301 per ounce (with a premium of $20), registering a gain of $4 during the day.

    Despite this international increase, the domestic market in Pakistan has seen a consistent downward trend. Over the past six sessions, gold prices per tola have dropped by Rs7,000. This decline is significant, considering that just last month, gold reached an all-time high of Rs252,200 per tola in the local market.

    Meanwhile, the price of silver remained stable, with rates holding at Rs2,620 per tola.

    Analysts suggest that the local decline in gold prices may be due to various factors, including market speculation, currency fluctuations, and changes in demand. With international prices showing a slight increase, it remains to be seen whether the downward trend in Pakistan will continue or if the market will begin to stabilise.

    For now, local consumers and investors in gold are watching the market closely, anticipating potential changes in the days ahead.