Latest news with #Rs339
Express Tribune
15-04-2025
- Business
- Express Tribune
Gold edges up amid quiet market
Listen to article Gold prices in Pakistan rose on Tuesday, tracking gains in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola increased by Rs600 to reach Rs339,400 in the local market. Similarly, the rate for 10 grams climbed by Rs514, settling at Rs290,980. On the global front, the price of gold rose by $6, with APGJSA quoting the international rate for Pakistan at $3,224 per ounce, including a $20 premium. This uptick follows a decline on Monday when the price of gold per tola fell by Rs1,800 to Rs338,800. Commenting on the market trend, Adnan Agar, Director at Interactive Commodities, said the market was relatively subdued on Tuesday following a period of heightened activity. "Today, the market is calm after nearly two weeks of significant movement," Agar noted. "Gold touched a high of $3,232 and a low of $3,209 during the session, currently stabilising at around $3,222. Yesterday's low was $3,190, but the market has seen some recovery since then." He added that the market may remain quiet due to the upcoming long weekend, with international trading expected to pause on Good Friday. Globally, gold prices gained on Tuesday, helped by safe-haven demand as US President Donald Trump's tariff plans kept investors wary of trade policy, while an overall weaker dollar also lent support. Spot gold was up 0.4% at $3,223.41 an ounce. Bullion hit a record high of $3,245.42 on Monday. US gold futures rose 0.4% to $3,238.70. "Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There's still safe-haven demand," said Jim Wyckoff, senior analyst at Kitco Metals. Federal Register filings on Monday showed that the US administration is advancing investigations into pharmaceutical and semiconductor imports in a bid to impose tariffs. Trump on Sunday said he would announce the tariff rate on imported semiconductors over the next week. Meanwhile, the Pakistani rupee recorded a marginal gain against the US dollar on Tuesday, appreciating by 0.01% in the inter-bank market. The local currency closed at 280.57, marking a slight increase of three paisas from the previous day's closing rate of 280.60. On the global stage, the US dollar remained steady but continued to hover near a three-year low against the euro and a six-month low versus the yen, as markets remained cautious amid ongoing uncertainty over shifting US tariff policies.
Express Tribune
15-04-2025
- Business
- Express Tribune
Gold price in Pakistan today – April 15, 2025
Listen to article Gold prices have continued their upward trajectory, with further increases being observed in both global and local markets. In the international bullion market, the price of gold per ounce increased by $6, reaching $3,224. This rise has translated into higher local prices, with 24-carat gold per tola increasing by Rs600 to Rs339,400. Additionally, the price of 10 grams of gold rose by Rs514, bringing it to Rs290,980 in Pakistan. Despite the rise in gold prices, silver prices remained steady, with the price of silver per tola holding at Rs3,397 and 10 grams at Rs2,912. These increases in gold prices reflect a sustained demand for the precious metal, both in the global and local markets. As prices continue to rise, investors and consumers alike are closely monitoring the trend. Earlier on Monday, gold prices in Pakistan fell on Monday after a three-day upward trend. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola had declined by Rs1,800, bringing it down to Rs338,800 in the local market. This decline came after gold had reached a record high of Rs340,600 per tola on Saturday, following a single-day increase of Rs1,800.
