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Business Recorder
a day ago
- Business
- Business Recorder
Gold price per tola falls Rs700 in Pakistan
Gold prices in Pakistan decreased on Friday in line with their decline in the international market. In the local market, gold price per tola reached Rs348,600 after it lost Rs700 during the day. Similarly, 10-gram gold was sold at Rs298,868 after it shed Rs599, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Thursday, gold prices remained stable in Pakistan in line with no change in the international market. The international rate of gold also declined on Friday. The rate was at $3,302 per ounce (with a premium of $20), a decrease of $7, as per APGJSA. Meanwhile, silver price per tola remained stable at Rs3,380.
Express Tribune
3 days ago
- Business
- Express Tribune
Gold rises Rs1,400 as global market recovers
Listen to article Gold prices in Pakistan rose on Wednesday, tracking gains in the international market as investors sought bargains following a dip in the previous session. The local uptick comes amid global anticipation surrounding the release of minutes from the US Federal Reserve's latest policy meeting. According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola climbed by Rs1,400 to reach Rs349,300. Similarly, the price of 10 grams of gold increased by Rs1,200, settling at Rs299,468. This rebound followed a sharp drop on Tuesday when gold fell by Rs3,600 per tola to close at Rs347,900. Commenting on the trend, Adnan Agar, Director at Interactive Commodities, noted that international gold prices remained volatile but within a defined trading range. "The market touched a high of $3,325 and a low of $3,290 today, currently trading around $3,300," he said. "The $3,270 level is proving to be a strong support, from where the market has bounced back. On the upside, $3,350 is a key resistance." He explained that gold has been trading in a range-bound pattern, citing historical movements from $3,120 to $3,600. "Profit-taking is likely when prices approach upper resistance levels. On the downside, unresolved tariff issues and geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, continue to weigh on sentiment." Agar added that unless these global hurdles are permanently resolved, gold is expected to remain within the $3,270 to $3,360 range. "A breakout beyond either end could push prices towards $3,200 or $3,420-3,500, respectively," he concluded. Globally, gold prices rose on Wednesday as traders sought bargains following the previous session's declines, while the market remains focused on minutes from the Federal Reserve's latest policy meeting due later in the day, according to Reuters. Spot gold gained 0.4% to $3,312.05 an ounce by 1255 GMT, after hitting a session low of $3,285.19 on Tuesday. US gold futures rose 0.3% to $3,310.60. "The gold market has been kind of choppy recently, just reacting to fresh daily fundamental news events with no real trending price action. In the near term, the market top is in place," Jim Wyckoff, Senior Analyst at Kitco Metals, said. "The minutes can be market movers. Market watchers are going to be looking at new comments on inflation this afternoon." Minutes of the Fed's May policy meeting are due at 1800 GMT. The meeting took place amid heightened concern over global trade tensions, following President Trump's early April announcement of major new import tariffs. Some of the most aggressive tariffs were eased or delayed a week later. Gold, which performs well in a low-interest rate environment and serves as a safe haven during times of uncertainty, has gained 26% so far this year and hit a record high in April.
Express Tribune
3 days ago
- Business
- Express Tribune
Gold prices surge in Pakistan after two-day slump
Listen to article After two consecutive days of decline, gold prices in Pakistan recorded an upward trend on Wednesday, tracking gains in international markets. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs1,400, reaching Rs349,300 in the local market. Similarly, the price of 10 grams of gold increased by Rs1,200, settling at Rs299,468. On Tuesday, gold prices had dropped sharply, with the per tola rate falling by Rs3,600 to Rs347,900, reflecting pressure from both local and global trends at the time. Silver prices also saw an uptick on Wednesday. The per tola rate of silver increased by Rs32, reaching Rs3,480. Market analysts suggest that fluctuations in precious metals are closely tied to global economic signals and investor sentiment, with current gains fueled by renewed demand and international market strength.
Business Recorder
3 days ago
- Business
- Business Recorder
Gold price per tola surge Rs1,400 in Pakistan
Gold prices in Pakistan increased on Wednesday in line with their incline in the international market. In the local market, gold price per tola reached Rs349,300 after a surge of Rs1,400 during the day. Similarly, 10-gram gold was sold at Rs299,468 after it gained Rs1,200, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold price per tola slashed to Rs347,900 after it losing Rs3,600 during the day. The international rate of gold also improved on Wednessday. The rate was at $3,309 per ounce (with a premium of $20), an increase of $14, as per APGJSA. Meanwhile, silver price per tola increased by Rs32 to settle at Rs3,480.
Business Recorder
4 days ago
- Business
- Business Recorder
Gold price per tola falls Rs3,600 in Pakistan
Gold prices in Pakistan decreased on Tuesday in line with their decline in the international market. In the local market, gold price per tola reached Rs347,900 after it lost Rs3,600 during the day. Similarly, 10-gram gold was sold at Rs298,268 after it shed Rs3,086, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Monday, gold price per tola reached Rs351,500 after it lost Rs2,600 during the day. The international rate of gold also declined on Tuesday. The rate was at $3,295 per ounce (with a premium of $20), a decrease of $36, as per APGJSA. Meanwhile, silver price per tola decreased by Rs60 to settle at Rs3,448.
