Latest news with #Rs287
Express Tribune
15-05-2025
- Business
- Express Tribune
Gold plunges for second day in global and local markets
Listen to article Gold prices recorded a signficant drop in both international and domestic markets as the decline for a second consecutive day. According to All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold per tola (11.66 grams) dropped by Rs6,700, bringing it down to Rs335,200. Similarly, the price of 10 grams of gold fell by Rs5,745, reaching Rs287,379. Yesterday in local markets, the per tola gold (11.66 grams) fell by Rs2,300, bringing the price to Rs341,900. The price of gold in the international bullion market declined by $67 per ounce, settling at $3,168. The sharp fall in global rates also impacted domestic prices in Pakistan. The price of silver also decreased, with one tola falling by Rs105 to Rs3,377. Gold prices fell to their lowest in more than a month on Thursday, as easing trade tensions between the world's two largest economies dented demand and investors awaited US economic data for further clarity on future interest rates. Spot gold was down 0.8% to $3,154.16 an ounce as of 0838 GMT, after hitting its lowest since April 10 earlier in the session. The US and China this week have agreed to reduce tariffs and implemented a 90-day pause, de-escalating a trade war and denting demand for gold as a safe haven. Gold, used as a store of value during times of political and financial uncertainty, scaled an all-time high of $3,500.05 per ounce last month, boosted by central bank buying, fears linked to a global tariff war, and strong investment demand.
Business Recorder
15-05-2025
- Business
- Business Recorder
Gold price per tola falls Rs6,700 in Pakistan
Gold prices in Pakistan continued to fall in line with their decrease in the international market. In the local market on Thursday, gold price per tola reached Rs335,200 after it shed Rs6,700 during the day. As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA),10-gram gold was sold at Rs287,379, after it decreased Rs5,745. On Wednesday, gold price per tola reached Rs341,900 after it shed Rs2,300 during the day. The international rate of gold also decreased on Thursday. The rate was at $3,168 per ounce (with a premium of $20), a decline of $67, as per APGJSA. Meanwhile, silver price per tola also decreased by Rs105 to settle at Rs3,377.
Express Tribune
16-03-2025
- Business
- Express Tribune
Govt institutions owe Rs311b to TCP, PAC told
Federal and provincial governments owed Rs287 billion to the TCP. Of the total, maximum receivables of Rs115 billion were against the National Fertiliser Marketing Ltd, followed by Rs95.3 billion against the Utility Stores Corp. photo: file In a startling revelation, the PAC was informed that various government institutions owe Rs311 billion to the Trading Corporation of Pakistan (TCP), with Rs93 billion in principal and Rs218 billion in interest yet to be recovered. The PAC session, chaired by Junaid Akbar Khan, convened last Wednesday to scrutinise financial irregularities, illegal recruitments and encroachments on state-owned properties. Expressing displeasure over Rs275 million from the Export Development Fund (EDF) remaining unused for the past five years, the PAC chairman questioned why funds meant for students' training had not been utilised and directed an inquiry into the matter.
