Latest news with #Rs306
Business Recorder
21-04-2025
- Business
- Business Recorder
Gold price per tola jumps Rs8,100 to hit another record high in Pakistan
Gold prices continued their record run in both the local and international markets. In Pakistan, gold price per tola posted a single-day gain of Rs8,100 to hit another all-time high of Rs357,800 in Pakistan on Monday. Similarly, 10-gram gold was sold at Rs306,755 after it registered an increase of Rs6,944, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold price per tola was unchanged at Rs349,700. The international rate of gold also hit a fresh record on Monday. As per APGJSA, the rate was at $3,395 per ounce (with a premium of $20), an increase of $69 during the day. Meanwhile, silver price increased by Rs24 to settle at Rs3,441 per tola.
Business Recorder
21-04-2025
- Business
- Business Recorder
Gold price per tola gains Rs8,100 for first time in Pakistan
Gold prices reached a fresh record in Pakistan on Monday. In the local market, gold price per tola gained Rs8,100 to hit Rs357,800 for first time in the history. Similarly, 10-gram gold was sold at Rs306,755 after it registered an increase of Rs6,944, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold price per tola was unchanged at Rs349,700. The international rate of gold also hit a fresh record on Monday. As per APGJSA, the rate was at $3,395 per ounce (with a premium of $20), an increase of $69 during the day. Meanwhile, silver price increased by Rs24 to settle at Rs3,441 per tola.
Express Tribune
13-03-2025
- Business
- Express Tribune
Gold prices in Pakistan today; March 13, 2025
Listen to article The price of gold has surged in both international and local markets. According to Express News, in the international bullion market, the price of gold per ounce increased by $27, reaching $2,942. Locally, the price of gold per tola rose by Rs 2,800, reaching a new peak of Rs 309,300. Similarly, the price of gold per 10 grams increased by Rs 2,400, reaching a record level of Rs 265,174. Yesterday in the local market, the price of gold per tola rose by Rs500 to reach Rs306,500. Gold prices traded near record high levels on Thursday, fuelled by demand for safe-haven assets amid tariff concerns and a US inflation report that reinforced expectations of a future rate cut. Spot gold gained 0.3% to $2,940.99 an ounce, as of 0856 GMT, about $16 shy from the record peak. Due to the economic uncertainty caused by US tariffs, spot gold hit a record high of $2,956.15 on February 24. US gold futures were up 0.1% at $2,950.80. "Gold continues to be supported by the prospect of a tariff-driven economic slowdown, potentially bringing forward U.S. Fed rate cut expectations," Ole Hansen, head of commodity strategy at Saxo Bank, said. "I maintain my bullish stance on gold, expecting an economic slowdown or even stagflation to drive demand and price of gold higher." US President Donald Trump's fluctuating trade policies - imposing and delaying tariffs on Canada and Mexico, while raising duties on Chinese goods - have roiled the global financial markets. In response, China and Canada hit back with tariffs of their own. Data on Wednesday showed consumer prices cooling more than analysts' expectations, keeping hopes alive that the Fed could cut its interest rate this year. The Fed last year cut rates by 100 basis points, but has held steady since then. Investors prefer non-yielding gold in a low interest rate environment. Macquarie raised its gold price forecast to $3,150 per ounce for third quarter and sees single point price high of $3,500 this year. "We have upgraded our annual silver price forecasts by 2-4%, on account of the metal's precious characteristics, despite downgrading our industrial supply-demand balance," it added. Investors now await the US Producer Price Index (PPI) data due at 1230 GMT for further insights into the Fed's monetary policy. Spot silver fell 0.6% to $33.03 an ounce, platinum lost 1.2% to $972.70, while palladium dropped 0.5% to $944.07.
Express Tribune
12-03-2025
- Business
- Express Tribune
Range-bound gold edges up by Rs500
Listen to article After remaining stable for two days, gold prices in Pakistan edged higher on Wednesday, tracking gains in international markets. In the local market, the price of gold per tola rose by Rs500 to reach Rs306,500, while the rate for 10 grams increased by Rs429 to Rs262,774, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold prices remained unchanged at Rs306,000 per tola. Internationally, gold prices also saw an uptick, with APGJSA reporting a rate of $2,915 per ounce (including a $20 premium), marking a $5 increase during the day. "Gold prices in the market were range-bound today," said Adnan Agar, Director at Interactive Commodities, explaining that the day's low and high were $2,906 and $2,927, respectively, with the market currently trading near its peak. He attributed the gold price increase to lower-than-expected inflation data from the US, which could pressure the Federal Reserve to consider interest rate cuts. However, uncertainties remain due to ongoing tariff-related policies under Donald Trump, which could impact the US economy. Agar further noted that while interest rates are likely to remain stable, if gold closes above the $3,030-$3,035 mark, it could potentially retest previous all-time highs. Conversely, if it fails to close above $3,000, the market may continue fluctuating within the $2,900-$2,930 range, as it has for the past 8-10 days. The upcoming market closing will be a key indicator of future trends. Meanwhile, the Pakistani rupee remained largely stable against the US dollar, slipping by a marginal 0.01% in the interbank market on Wednesday. By the end of the trading session, the currency stood at 279.97, reflecting a slight depreciation of 2 paisa against the greenback. A day earlier, the rupee had closed at 279.95. Moreover, in the Pakistan Investment Bonds (PIB) auction, the State Bank of Pakistan (SBP) raised a total of Rs15.8 billion, significantly below the target of Rs350 billion. The central bank received bids worth Rs476 billion but rejected all bids for the 2-year and 3-year bonds. Meanwhile, the cut-off yield for the 5-year bond remained unchanged, while the 10-year bond saw a slight decline of just 1 basis point.
Express Tribune
12-03-2025
- Business
- Express Tribune
Gold steady for 2nd day
Gold prices in Pakistan remained unchanged for the second consecutive day, an unusual occurrence given recent economic trends, with the yellow metal being sold at Rs306,000 per tola on Tuesday, the same as in the previous session. Similarly, 10-gram gold was priced at Rs262,345, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Monday, gold prices also held firm at Rs306,000 per tola. International prices for the Pakistani market remained steady on Tuesday. According to APGJSA, the global rate was recorded at $2,910 per ounce, including a $20 premium. Adnan Agar, Director of Interactive Commodities, noted that the market showed slight instability. He mentioned that gold had touched a low of $2,880 and was currently around $2,820, with an intraday high of $2,925-$2,926. He added that if this trend continues, gold prices are likely to remain stable. However, if the market rebounds or Donald Trump introduces policy changes or delays certain tariffs, gold prices could decline. Globally, gold prices gained nearly 1% on Tuesday amid a weaker dollar and economic slowdown worries due to tariff wars, while investors awaited a key inflation report that could shed light on US monetary policy. Spot gold was 1% firmer at $2,919.29 an ounce as of 1509 GMT. US gold futures were 0.9% higher at $2,926.30. The US dollar index hit its lowest level since early November. A softer dollar makes greenback-priced bullion more affordable for other currency holders. "Gold is likely to remain supported amid ongoing market uncertainties, bolstering demand for the safe-haven asset. However, any positive developments in Russia-Ukraine negotiations could reduce risk premiums," said Zain Vawda, a market analyst at MarketPulse by OANDA. The tariff policies implemented by Trump against key trading partners have caused significant volatility in global markets and heightened concerns about economic growth. Meanwhile, the Pakistani rupee saw a slight appreciation against the US dollar, rising by 0.04% in the interbank market on Tuesday. By the end of the trading session, the rupee settled at 279.95, marking a gain of 12 paisa against the greenback. On Monday, the currency had closed at 280.07. The last time the rupee closed above 280 against the US dollar was in January 2024.
