logo
Gold price per tola sheds Rs1,100 in Pakistan

Gold price per tola sheds Rs1,100 in Pakistan

Gold prices in Pakistan decreased on Tuesday in line with their loss in the international market. In the local market, gold price per tola reached Rs356,600 after a decline of Rs1,100 during the day.
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs305,727 after it shed Rs943.
On Monday, gold price per tola reached Rs357,700 after a gain of Rs1,500 during the day.
The international rate of gold also saw a decrease today. The rate was at $3,339 per ounce (with a premium of $20), a loss of $11, as per APGJSA.
Meanwhile, silver price per tola remained unchanged at Rs4,031.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PSX notches another record close above 150.5k
PSX notches another record close above 150.5k

Express Tribune

time11 hours ago

  • Express Tribune

PSX notches another record close above 150.5k

Bulls continued to maintain their firm grip over the Pakistan Stock Exchange (PSX) on Wednesday as the KSE-100 index roared past 150.5k points, a historic high that came on the back of Moody's ratings upgrade for banks and encouraging corporate-sector earnings. Robust interest from local institutions in stock buying and a modest current account deficit for July also lent support to the stock market, which rose 820 points, or 0.55%, and closed the day at 150,591. 'Stocks closed at an all-time high after Moody's Ratings upgraded the local and foreign-currency long-term deposit ratings of five leading Pakistani banks to Caa1 from Caa2, following its recent decision to raise the country's sovereign rating,' commented Ahsan Mehanti of Arif Habib Corp. 'Upbeat data showing $284 million in current account deficit amid strong remittances, rising exports and rupee stability powered the market's record close,' he said. Market Snapshot – August 20, 2025 Unlock yesterday's market moves and stay one step ahead! #August20 — PSX (@pakstockexgltd) August 20, 2025 Topline Securities, in its report, said bulls showed no signs of fatigue at the local bourse, storming ahead to notch the intra-day record high of 1,490 points before settling at 150,591, up 820 points (+0.55%). The upward momentum was underpinned by better-than-expected corporate earnings and a strong liquidity push from local institutions, lifting the benchmark index to uncharted heights, it said, adding that investor confidence remained buoyant as market heavyweights attracted robust flows, reinforcing the bullish undertone. The rally was largely fuelled by index heavyweights including Systems Limited, Bank AL Habib, NBP, MCB Bank and Bank Alfalah, which collectively contributed 503 points to the upward trajectory. Market participation remained robust, with traded volumes surging to 668 million shares and traded value reaching Rs40.7 billion. The Bank of Punjab led the volumes as it saw 52.3 million shares change hands during the trading session, Topline added.

SBP upgrades PRISM system
SBP upgrades PRISM system

Express Tribune

timea day ago

  • Express Tribune

SBP upgrades PRISM system

Ahmad described PRISM+ as a 'strategic asset' that will enable the country's payment systems to meet future demands, support innovation, and enhance financial stability. Photo: File The State Bank of Pakistan (SBP) has formally launched its upgraded Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+) after the original system processed transactions worth over Rs1,043 trillion in FY24, equal to ten times the size of Pakistan's GDP. SBP Governor Jameel Ahmad said the massive transaction volumes highlighted the strategic importance of large-value payment systems in financial markets. PRISM+, he added, would expand the system's capacity and efficiency to meet growing needs. He was addressing stakeholders at the launch ceremony held at the National Institute of Banking and Finance (NIBAF) in Karachi. The event was attended by CEOs of banks, microfinance institutions, payment system operators (PSOs), payment service providers (PSPs), senior SBP officials and stakeholders. Built on the ISO 20022 global messaging standard, PRISM+ places Pakistan among a small group of countries adopting the state-of-the-art framework for both retail and wholesale payments. The new system enables structured financial messaging, improved interoperability, and greater transparency. PRISM+ also introduces advanced features such as real-time liquidity management tools, transaction queuing and prioritisation, future-dated payments, and seamless integration with the Central Securities Depository (CSD) for auctions, repos, and monetary operations. Ahmad said the initiative reflects SBP's Vision 2028 to modernise digital financial infrastructure. He pointed to Pakistan's rapid shift toward digital finance, noting that the country now has over 225 million bank and digital wallet accounts, including 96 million unique users. Around 28 million people use banking apps, 71 million rely on branchless banking, while 17 million access internet banking. The governor reaffirmed SBP's strong focus on the security and resilience of payment systems. "As we expand Pakistan's digital infrastructure, SBP has mandated strict cybersecurity, anti-money laundering and fraud control frameworks to ensure trust and transparency," he said. He acknowledged the World Bank Group's support under the Financial Inclusion and Infrastructure Project and praised the efforts of SBP teams, consultants, and partner banks in executing the upgrade. In his concluding remarks, Ahmad described PRISM+ as a "strategic asset" that will enable the country's payment systems to meet future demands, support innovation, and enhance financial stability.

PSX breaks 150k barrier, hits another record
PSX breaks 150k barrier, hits another record

Express Tribune

timea day ago

  • Express Tribune

PSX breaks 150k barrier, hits another record

The Pakistan Stock Exchange (PSX) soared past another record on Tuesday, breaking the 150,000 mark for the first time ever during intra-day trading. Analysts remarked that bullish momentum from previous sessions continued, driven by strong institutional inflows, particularly in banking and cement sectors. Additionally, investor sentiment was bolstered by a positive economic outlook from both Fitch and Moody's and the government's attempts to settle the circular debt. The sustained momentum propelled the KSE-100 index to the intra-day high of 150,323, before it closed at 149,770.75, an increase of 1,574.32 points, or 1.06%. According to Ahsan Mehanti of Arif Habib Corp, stocks closed at an all-time high as investors weighed Fitch and Moody's robust economic outlook, with Fitch projecting growth of 3.5% for FY27. Additionally, the government's plans to cut Rs2.6 trillion worth of circular debt alongside upbeat data of exports, cement dispatches and rupee stability drove the PSX to the record close, he noted. At the end of trading, the benchmark KSE-100 index recorded an increase of 1,574.32 points, or 1.06%, and settled at 149,770.75. In its market review, Topline Securities remarked that the bullish momentum from previous sessions continued, driven by strong institutional inflows, particularly in banking and cement sectors. According to a Topline analyst, cement sales are gaining momentum in August and earnings could exceed expectations. The sustained optimism propelled the benchmark KSE-100 index to intra-day high of 150,323, up 2,127 points, before it closed at an all-time high of 149,771, marking a net gain of 1,574 points, it said. The rally was largely fuelled by index heavyweights including Bank AL Habib, UBL, Lucky Cement, Meezan Bank and Engro Corporation, which contributed 1,306 points to the index's upward trajectory. In its commentary, Arif Habib Limited (AHL) stated that the KSE-100 witnessed another strong session, with the index unlocking 150,000 points intra-day. Some 60 shares rose while 40 fell, with Bank AL Habib (+10%), Lucky Cement (+4.13%) and Meezan Bank (+3.63%) contributing the most to index gains. On the flip side, Fauji Fertiliser Company (-0.75%), Oil and Gas Development Company (-1.58%) and Hub Power (-1.38%) were the biggest drags, it said. Systems Limited (-1.51%) announced its 1HCY25 earnings per share (EPS) of Rs3.52, an increase of 59%, which was in line with expectations. The increase was primarily driven by higher technology services' exports and improved gross margins, AHL noted. Additionally, Pakistan State Oil (PSO) reported FY25 EPS of Rs45.11, an increase of 33% year-on-year, and dividend per share of Rs10, which was also in line with expectations. Kot Addu Power Co and Fauji Foundation jointly submitted an offer to Pharaon Investment to buy its 84.06% stake in Attock Cement (-1.48%). Moreover, Oil and Gas Development Company (-1.58%) and Pakistan Petroleum (-1.57%), in separate meetings, approved an increase in pro rata funding commitment, including the project cost to $715 million. "Near term support rises to 147,500-148,300 points, against which immediate gains are anticipated to continue," AHL concluded. AHL Deputy Head of Trading Ali Najib remarked that the KSE-100 index sustained its bullish streak, briefly unlocking the 150k milestone intra-day before closing the session higher, reflecting renewed investor optimism. Macro developments also lent support as Fitch's improved outlook on Pakistan's banking sector boosted sentiment, citing stronger capital buffers, improving credit growth potential and a healthier macro backdrop, he stated. Overall trading volumes increased to 809.1 million shares compared with Monday's tally of 610.3 million. Traded value stood at Rs48.4 billion. Shares of 483 companies were traded. Of these, 265 stocks closed higher, 194 dropped and 24 remained unchanged. WorldCall Telecom was the volume leader with trading in 52.3 million shares, gaining Rs0.05 to close at Rs1.45. It was followed by The Bank of Punjab with 46.1 million shares, gaining Rs0.33 to close at Rs14.76 and Fauji Cement with 43.7 million shares, gaining Rs2.98 to close at Rs53.48. Foreign investors sold shares worth Rs488 million, the National Clearing Company reported.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store