Gold prices soar in local market
World market posted a big gain, soaring by $37, to settle at $3,424 per ounce that also fuelled the local gold value, All Pakistan Sarafa Gems and Jewellers Association said.
As a result, the local gold prices mounted by Rs3,700 and Rs3,171, reaching Rs364,900 per tola and Rs312,842 per 10 grams, respectively.
Following suit, the domestic silver market also grew - up by Rs46 to Rs4,081 per tola and Rs39 to Rs3,498 per 10 grams. Silver in the global market stood at over $39 per ounce, the jewellers association added.
It is worth noting that the open market may trade gold and silver at rates differing those officially announced by the association.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
13 hours ago
- Business Recorder
Atlas Honda shifts gears with launch of CG150 in Pakistan
Expanding its range of mid-sized bikes, Atlas Honda, the largest motorcycle manufacturer in Pakistan, has introduced its latest 150cc motorcycle. The Honda CG150, priced at Rs459,900, is aimed at customers seeking performance, reliability, and fuel efficiency. According to information available on Atlas Honda's website, the new model features a 4-stroke, 150cc SOHC [single overhead camshaft] air-cooled engine with a bore and stroke of 57.3 x 57.8mm. On the power front, the motor bike delivers a maximum output of 8.75kW (11.9 PS) at 7,500 rpm [revolutions per minute] and a peak torque of 12.5 Nm at 6,000 rpm. Atlas Honda hikes bike prices in Pakistan following new tax imposition The bike uses a 5-speed constant mesh transmission and is equipped with both self and kick-start options. It has a compression ratio of 9.1:1 and a displacement of 149.2cc, allowing smooth power delivery. On the comfort and control front, Honda's latest motorcycle comes with a telescopic front suspension (119mm fork travel) and a twin rear cushion setup (91mm travel). The seating height is 773mm, while ground clearance stands at 171mm, making it suitable for both city riding and slightly rugged terrain. The Honda CG150 rides on a combination of 2.75-18 front and 90/90-18/C rear tyres, offering solid road grip. Fuel capacity is 11.4 litres, including a 2.1-litre reserve, while the wheelbase measures 1,316mm, contributing to improved stability at higher speeds. The final drive is chain-based, a common standard in bikes of this category. The CG150 dimensions are 2,066mm in length, 773mm in width, and 1,069mm in height. Atlas Honda holds over half of the motorcycle market share in Pakistan, and with the entry of CG150 in the competitive 150cc segment, the company appears to be targeting commuters seeking a reliable and fuel-efficient ride. During the three-month period ending June 30, 2025, Atlas Honda recorded net sales of Rs62.3 billion, marking a 31% increase compared to the corresponding period of the last year. Meanwhile, gross profit was recorded at Rs7.8 billion as compared to Rs4.6 billion in the corresponding period.
Business Recorder
a day ago
- Business Recorder
Highnoon forges alliance with BD's Beximco
KARACHI: Highnoon Laboratories Limited, a prominent Pakistani pharmaceutical company, announces a significant strategic partnership with Beximco Pharmaceuticals Limited, a leading pharmaceutical firm based in Bangladesh. The collaboration aims to enhance the availability of specialised pharmaceutical products in Pakistan, focusing on critical therapeutic areas such as respiratory, diabetes, and cardiovascular diseases. The partnership was formalised through the signing of a Memorandum of Understanding (MoU) between the two companies. This alliance is set to introduce newer therapies, advanced dosage forms, and innovative drug delivery systems to the Pakistani market, promising improved ease of use and better clinical outcomes for patients, while simultaneously enhancing access to advanced medications. Beximco Pharmaceuti-cals Limited brings to the table state-of-the-art manufacturing facilities, which have received accreditation from stringent regulatory authorities across the globe, including the USA, Australia, the European Union, Canada, and Brazil. This robust accreditation underscores Beximco's commitment to quality and international standards. Highnoon Laboratories Limited, recognised as a recipient of Forbes Asia's 'Best Under A Billion' award in 2023, views this strategic alliance as a pivotal step. According to the disclosure made to the Pakistan Stock Exchange Limited, the company believes this partnership will not only benefit patients in Pakistan but also significantly contribute to the ongoing expansion of trade relations and economic cooperation between Pakistan and Bangladesh. The collaboration is expected to bring substantial advancements to Pakistan's healthcare sector, offering new hope and improved treatment options for patients suffering from high-burden diseases. Copyright Business Recorder, 2025
Business Recorder
a day ago
- Business Recorder
MPC meeting today
KARACHI: The Monetary Policy Committee (MPC) of State Bank of Pakistan will meet today (Wednesday) for deliberation on the key economic issues to decide about the Monetary Policy. Governor SBP Jameel Ahmad will chair the meeting and later announce the Monetary Policy decision at a press conference. In the previous meeting held on June 16, 2025, the Committee kept the policy rate unchanged at 11 percent, as inflation was expected to trend up in coming months. Most market analysts anticipate a rate cut of 50 to 100 basis points, citing a current account surplus and a rise in foreign exchange reserves. Copyright Business Recorder, 2025
