Latest news with #All-PakistanGemsandJewellersSarafaAssociation
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
2 days ago
- Business
- Express Tribune
Inflation risks mount despite macro stability
Listen to article The latest monthly economic outlook report has raised concerns about a potential increase in inflation ahead of the upcoming budget. Inflation for the current month is expected to remain between 1.5% and 2%, with a possible rise to 3-4% next month. In April, the annual inflation rate stood at a low 0.3%. The report highlights continued growth in exports and remittances, along with a gradual recovery in large-scale manufacturing. Production of vehicles and imports of raw materials have increased, although large-scale manufacturing recorded a 1.47% decline between July and March. Favourable weather conditions and additional water supply are expected to boost agricultural output, which should contribute positively to overall economic growth. Remittances grew by 30.9% over ten months, reaching $31.21 billion, while exports increased by 6.8%, totalling $27.27 billion between July and April. The current account remained in surplus at $188 million. Imports rose by 11.8% to $48.61 billion. However, foreign direct investment dropped by 2.8% to $178 million. Tax revenue increased by 26.3% to Rs930 billion, and non-tax revenue surged by 69.9% to Rs409.9 billion. Meanwhile, the State Bank of Pakistan's (SBP) foreign exchange reserves rose to $11.4 billion. Overall, the report signals cautious optimism for economic growth amid inflationary pressures. The SBP's foreign exchange reserves increased by $70 million during the week ended May 23, 2025, reaching $11.516 billion, according to data released on Thursday, according to the SBP's latest data. The country's total liquid foreign reserves stood at $16.637 billion. Of this, $5.121 billion was held by commercial banks, while the SBP accounted for the remaining $11.516 billion. Rupee records slight gain Meanwhile, the Pakistani rupee regained slightly against the US dollar, gaining 0.04% in the interbank market on Thursday. By the end of trading, the rupee closed at 282.07, improving by Rs0.10 against the dollar. The interbank market remained closed on Wednesday due to the Yaum-e-Takbeer holiday. On Tuesday, the rupee had ended at 282.17. The US dollar strengthened sharply on Thursday after a court struck down former President Donald Trump's proposed Liberation Day import tariffs, posting strong gains against the euro, yen, and Swiss franc. Gold remains steady Moreover, gold prices in Pakistan remained steady on Thursday, mirroring the international market where prices edged higher amid volatile trading, supported by weaker US jobs data and a court decision blocking key tariffs imposed during former President Donald Trump's term. Locally, the price of gold per tola held firm at Rs349,300, while the rate for 10 grams also remained unchanged at Rs299,468, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Wednesday, the per tola price had climbed by Rs1,400 to reach Rs349,300. Commenting on market trends, Adnan Agar, Director at Interactive Commodities, said the market hit a low of $3,250 and a high of $3,320 before settling at $3,300. He noted that the market did rebound from its low, but a close above the $3,330-$3,340 range is crucial to maintain stability. If it falls below the $3,270-$3,260 mark, prices could slide further to $3,220 or even $3,200, he warned. Globally, gold prices rose in volatile trading on Thursday, aided by softer jobs data, while market participants also digested a court ruling that blocked most of US President Donald Trump's tariffs, according to Reuters. Spot gold reversed course to rise 0.9% to $3,319.22 an ounce, as of 1337 GMT, after hitting its lowest since May 20 earlier in the session.
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.
