logo
Gold price per tola increases Rs3,500 in Pakistan

Gold price per tola increases Rs3,500 in Pakistan

Gold prices in Pakistan gained on Friday in line with their increase in the international market. In the local market, gold price per tola reached Rs351,000 after it gained Rs3,500 during the day.
Similarly, 10-gram gold was sold at Rs300,925 after gaining Rs3,000, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Thursday, gold price per tola reached Rs347,500 after it lost Rs1,900 during the day.
The international rate of gold also jumped on Friday. The rate was at $3,326 per ounce (with a premium of $20), an increase of $35, as per APGJSA.
Meanwhile, silver price per tola increased by Rs38 to reach Rs3,466.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Cattle prices surge by up to 70%
Cattle prices surge by up to 70%

Express Tribune

time5 hours ago

  • Express Tribune

Cattle prices surge by up to 70%

With Eidul Azha just around the corner, the sale of sacrificial animals has gathered pace across the metropolitan city, with markets seeing an uptick in activity. However, buyers are facing steep price hikes, with the cost of sacrificial animals surging by 50 to 70 per cent compared to last year. In various cattle markets of the metropolis, the starting price for goats is now around Rs40,000, while heifers - regardless of weight - are hardly available for less than Rs140,000. Last year, a low-weight heifer could still be purchased for under Rs100,000 were now fetching Rs200,000 or more. Buyers are increasingly frustrated at the lack of official regulation in animal pricing. Traders are setting prices arbitrarily, leaving buyers to negotiate deals through bargaining. Traders attribute the increase in prices to several factors, including the rising cost of animal feed, transportation, and other logistical expenses. "The cost of fodder alone has surged by over 50 per cent," Kashif Qureshi, a trader, told The Express Tribune. He added that animals are bought from larger markets in Punjab and Sindh, and medium-sized traders then transport them to Karachi - incurring fuel, tax, and miscellaneous expenses. "The total cost accumulates through various stages - purchasing from big traders, transportation to Karachi, and maintenance at the local markets, including lighting and security," Qureshi added. "Only after accounting for all these factors do traders add their margin, which can range from Rs15,000 to Rs50,000 for smaller animals and Rs50,000 to Rs200,000 or more for larger animals." Traders say that the pricing of animals is also influenced by breed, appearance, and weight. "While 13 government-designated cattle markets operate in Karachi, animals are also being sold informally in various neighbourhoods," said another trader, Arif Qureshi. He explained that cows, heifers, and camels are among the large animals available, but due to the current price surge, many middle-income families are struggling to afford them. Heifers of average weight are now selling between Rs200,000 and Rs300,000, while heavier, premium animals are priced between Rs400,000 and Rs1 million. Elite buyers are purchasing high-end animals ranging from Rs1.2 million to Rs2 million or more. As Eidul Azha nears, buyers are increasingly visiting the markets during evening and nighttime hours, typically seeking medium-sized heifers for around Rs200,000. Most animals are sourced from various districts across Punjab. In the goat market, prices have also risen sharply. Saifuddin, a goat trader, told The Express Tribune that medium-weight goats that were previously sold for Rs30,000 to Rs35,000 are now priced at Rs50,000 to Rs60,000. The starting price for goats is around Rs40,000, with some reaching up to Rs300,000, depending on breed and build. Rams and sheep are similarly priced, ranging from Rs40,000 to Rs200,000 or more. Their valuation is also driven by factors such as weight, breed, and appearance, according to trader Rashid Saleem. Camel trader Ibrahim Din spoke about a growing trend in camel sacrifices over the past two years, though it remains relatively limited. He said camels brought in from different districts of Sindh now cost Rs300,000 and above. Karachiites have voiced their concern over the sharp rise in prices. Saeed-ul-Zafar from Nazimabad said the same heifer he purchased for Rs150,000 last year cost him Rs240,000 this time. "There needs to be a government-regulated pricing mechanism for sacrificial animals," he urged. Similarly, Asif Abbasi from Saddar criticised the lack of oversight, saying, "Traders are charging arbitrary prices. I bought a goat for Rs60,000 this year, which cost me just Rs35,000 last Eid." With no formal pricing framework in place, people are left to navigate the inflated market through direct negotiations with traders - hoping to uphold the tradition of sacrifice amidst economic challenges.

Cattle markets spring to life amid soaring prices
Cattle markets spring to life amid soaring prices

Express Tribune

time10 hours ago

  • Express Tribune

Cattle markets spring to life amid soaring prices

With Eidul Azha approaching, cattle markets across the metropolis have come alive with the hustle and bustle of buyers and sellers, but this year's skyrocketing prices have left citizens stunned. From the outskirts to the heart of the city, several makeshift livestock markets have been set up where people, including children, are eagerly heading to select their preferred sacrificial animals. However, prices for both small and large animals have surged drastically, making it difficult for many to afford this religious obligation. At the markets, the starting price of a bull is reported to be around Rs350,000, calves range between Rs200,000 to Rs250,000, and camels are being sold for Rs400,000 to Rs800,000. The steep rise in prices, driven by inflation and supply costs, has left both sellers and buyers anxious. To attract buyers, vendors have gone to great lengths to groom and decorate the animals. Protective measures against the summer heat are also in place as sellers are seen cooling their livestock with cold water baths and offering them traditional desi drinks. Makeshift shades have been erected to shelter the animals from the harsh sun. Meanwhile, the prices of fodder have also soared. Dry fodder such as bhoosa and toori is being sold for Rs800 to Rs850 per 40kg, while chopped green fodder costs Rs600 per 40kg, and unchopped green fodder is priced at Rs400 per 40kg. At Manawan Mandi, traders have arranged for their own electricity via generators and installed borewells for the animals' drinking water. However, no government-provided facilities like water filtration units or cooling systems for visitors have been set up. A complaints cell has been established, but many citizens remain concerned about the lack of basic amenities. Despite the challenges, the buying and selling of sacrificial animals continues in full swing.

Demand for butchers and charges go up
Demand for butchers and charges go up

Express Tribune

time11 hours ago

  • Express Tribune

Demand for butchers and charges go up

With Eidul Azha less than a week away, demand for butchers in the capital has surged significantly, driven by the anticipated increase in the slaughter of sacrificial animals during the Islamic festival. While some residents have already purchased their animals, many are still searching for suitable livestock. In this context, the role of butchers has become crucial for ensuring proper slaughter and meat preparation. Owing to their high demand and limited availability, professional butchers have increased their service charges compared to last year. Khawar Shehzad, a butcher who also runs a meat shop in Islamabad's sector I-10, said that Eidul Azha is a special Islamic festival following the slaughtering of animals at a mass level, highlighting that everyone looked for professional butchers to chop their meat, which sparked high demand. "Everyone looks for a professional and skilled butcher on Eidul Azha to ensure quality meat cutting - this is our peak season," he said. Shehzad shared his slaughtering rates for this year, noting that cow slaughtering on the first day of Eid is priced at Rs25,000, while the rate drops to Rs20,000 on the second day. By the third day, the charges range between Rs15,000 and Rs18,000, depending on demand. The charges for goat and sheep sacrifices range from Rs6,000 to Rs7,000, he added. While residents of the Islamabad Capital Territory (ICT) are eagerly preparing for Eidul Azha, many have expressed concerns over the soaring prices of sacrificial animals and the high fees charged by butchers. Tariq Mahmood, a resident of the same sector who purchased his animal on Eid, said that he was trying to get the booking of a professional butcher for his meat preparation, who has high rates and high demand, adding, "If I can't book one, I'll go with a seasonal one." According to Tariq, the seasonal butchers are more or less equally efficient and skilled, sharing his previous year's experience. Despite the fact that the demand for professional and skilled butchers is notably high, people somehow manage to find a suitable person to sacrifice their animal. To help meet the growing demand, many butchers from across the country also travel to Islamabad during Eid. These visiting butchers often charge slightly less and provide a practical solution to the city's shortage of skilled labour. Their presence also provided them an opportunity to enhance their earning more than they typically have in their hometowns.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store