Latest news with #Rs298
Business Recorder
3 days 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.
Business Recorder
6 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.
Business Recorder
25-04-2025
- Business
- Business Recorder
Gold loses huge value
KARACHI: After a day of pause, gold trading closed on a negative note on Friday, as global rates fell close to $3,300 per ounce, traders said. Gold lost huge value by Rs3,300 and Rs2,833, settling for Rs348,700 per tola and Rs298,950 per 10 grams, respectively, All Pakistan Sarafa Gems and Jewelers Association said. International market posted a significant drop by $33, dragging down gold bullion prices to $3,305 per ounce, while silver was available at over $33 per ounce. Domestic silver prices grew by Rs30 and Rs45, reaching Rs3,497 per tola and Rs2,998 per 10 grams, separately, the association added. It is worth noting that the open market may trade gold and silver at different prices as compared to those fixed by the association. Copyright Business Recorder, 2025
Business Recorder
25-04-2025
- Business
- Business Recorder
Gold price per tola falls Rs3,300 in Pakistan
Gold prices decreased in the local and international markets. In Pakistan, gold price per tola reached Rs348,700 after it shed Rs3,300 on Friday. Similarly, 10-gram gold was sold at Rs298,950 after it registered a decline of Rs2,833, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Thursday, gold price per tola remained unchanged at Rs352,000. The international rate of gold also declined on Friday. As per APGJSA, the rate was at $3,305 per ounce (with a premium of $20), a decrease of $33 during the day. Meanwhile, silver price increased by Rs40 to settle at Rs3,497 per tola.
Express Tribune
16-04-2025
- Business
- Express Tribune
Gold soars to record highs of Rs348,000/tola
Listen to article Gold prices continued their record-breaking surge on Wednesday, defying analysts' expectations of a market correction, as both domestic and international rates reached new all-time highs. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in Pakistan soared by Rs8,600 in a single day, settling at a historic high of Rs348,000. Similarly, the rate for 10 grams rose by Rs7,373 to close at Rs298,353. The international prices for Pakistan also saw a notable jump, with gold prices climbing $86 during the day to reach a record $3,310 per ounce, inclusive of a $20 premium. Commenting on the development, Adnan Agar, Director at Interactive Commodities, said gold continued its upward momentum, touching a record high of $3,319 before slightly retreating to $3,318. "Today's rally wasn't driven by any fresh news, particularly from the US side. Rather, it's a continuation of a multi-day bullish trend," he noted, adding that lingering concerns around the global trade war remain an underlying factor. Agar further cautioned that while there might still be room for another $25 upside, the market is approaching technically overbought territory. "Once that threshold is hit, a correction of $100150 can be expected," he said. On Tuesday, gold per tola had already climbed by Rs600 to close at Rs339,400, highlighting the persistent demand and bullish sentiment in the market. Meanwhile, the Pakistani rupee posted a slight gain against the US dollar on Wednesday, appreciating by 0.04% in the inter-bank market. By the close of trade, the rupee settled at 280.46, up by Rs0.11 from the previous day's closing rate of 280.57. On the global front, the US dollar held onto a modest rebound, as investors paused after several weeks of heavy selling, with markets steadying ahead of further developments in US trade negotiations. Moreover, the State Bank of Pakistan (SBP) raised a total of Rs1.225 trillion through two separate auctions held on April 16, 2025. In the Pakistan Investment Bond - Floating Rate (PFL) Semi-Annual Auction, SBP raised Rs260.83 billion, with Rs67.62 billion from 5-year bonds and Rs193.21 billion from 10-year bonds. Notably, all bids for the 2-year bonds were rejected. In the Market Treasury Bills (MTBs) Auction, SBP raised Rs964.63 billion across various tenors. The breakdown included Rs284.38 billion from 1-month bills, Rs135.02 billion from 3-month bills, Rs76.24 billion from 6-month bills, and Rs469 billion from 12-month bills. Combining both auctions, the central bank mobilised a substantial amount to meet government financing needs, reflecting investor confidence in Pakistan's short and medium-term debt instruments.
