Latest news with #Rs342
Express Tribune
21-05-2025
- Business
- Express Tribune
Gold prices continue to rise in local, global markets
Listen to article Gold prices in Pakistan rose on Wednesday, following gains in the international market. Locally, gold per tola increased by Rs6,600 to close at Rs349,400, while 10-gram gold was sold at Rs299,554, up by Rs5,659, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold per tola had reached Rs342,800 after gaining Rs300. Internationally, gold prices jumped to $3,310 per ounce with a $20 premium, a $66 increase, as reported by APGJSA. Meanwhile, silver prices also rose by Rs56 to Rs3,466 per tola. Globally, gold gained 0.2% on Tuesday, supported by a weaker dollar and cautious optimism over US-China trade talks and progress in Russia-Ukraine peace negotiations. The dollar index fell 0.2%, making gold more affordable for holders of other currencies.
Business Recorder
21-05-2025
- Business
- Business Recorder
Gold price per tola jumps Rs6,600 in Pakistan
Gold prices in Pakistan increased on Wednesday in line with their rise in the international market. In the local market, gold price per tola reached Rs349,400 after it gained Rs6,600 during the day. Similarly, 10-gram gold was sold at Rs299,554 after increasing by Rs5,659, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold price per tola reached Rs342,800 after it accumulated Rs300 during the day. The international rate of gold also jumped on Wednesday. The rate was at $3,310 per ounce (with a premium of $20), a gain of $66, as per APGJSA. Meanwhile, silver price per tola increased by Rs56 to Rs3,466. Internationally, gold prices eked out gains on Tuesday, buoyed by a lower dollar, while investors cautiously turned their attention to further developments in Russia-Ukraine peace talks and US tariff policy. Spot gold was up 0.2% at $3,236.94 an ounce as of 1102 GMT. US gold futures gained 0.2% to $3,239.40. The dollar index was down 0.2% against its rivals, making gold less expensive for other currency holders. 'Main focus of traders in the gold market today is on the optimism around the US-China trade and also on renewed hopes for progress towards peace in the Russia-Ukraine conflict,' Ricardo Evangelista, senior analyst at brokerage firm ActivTrades, said.
Business Recorder
21-05-2025
- Business
- Business Recorder
Gold prices show upward trend
KARACHI: Gold prices edged higher on Tuesday following a slight rise in the global rates, still hovering close to $3,250 per ounce, traders said. Local market saw an upward trend as the global bullion rate increased by $3, reaching $3,244 per ounce. This rise drove gold prices up by Rs300 per tola and Rs257 per 10 grams. Thus, gold rates scaled up to Rs342,800 per tola and Rs293,895 per 10 grams, All Pakistan Sarafa Gems and Jewelers Association said. Domestic silver prices continued holding steady at Rs3,410 per tola and Rs2,923 per 10 grams with international market selling the white metal at $33 per ounce, according to the association. Copyright Business Recorder, 2025
Express Tribune
20-05-2025
- Business
- Express Tribune
Gold inches up over global rally
Listen to article Gold prices in Pakistan remained relatively stable on Tuesday, despite a rise in international markets for the precious metal. The increase was influenced by a weakening US dollar and ongoing uncertainty about the US tariff policies as well as ceasefire talks between Russia and Ukraine. Domestically, the price of gold inched up Rs300 per tola, reaching Rs342,800, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). The price of 10-gram gold rose Rs257 to Rs293,895. This follows a significant gain on Monday when gold surged Rs4,000 per tola and settled at Rs342,500. Interactive Commodities Director Adnan Agar noted that gold trading remained subdued throughout the day. "Today's range was relatively narrow, with a high of $3,250 and a low of $3,206, while the market opened at $3,234. Currently, prices are hovering around $3,224," he said. Agar added that the $3,200 level was emerging as a key support zone. "The market is consolidating within a $50 range. If prices close above $3,250 to $3,280 in the next two to three days, we may see a bullish breakout. However, a close below $3,200 could signal renewed downward pressure." Globally, gold prices rose more than 1% on Tuesday as the US dollar weakened further, while uncertainty persisted over Trump's tariff policy and the Russia-Ukraine ceasefire, according to Reuters. Spot gold was up 1.6% at $3,280.32 an ounce by 1049 ET (1449 GMT), while US gold futures were 1.5% higher at $3,283.10. The dollar slipped again on Tuesday, weighed down by the Federal Reserve's caution over the economy, having sold off broadly on Monday after ratings agency Moody's downgraded the US sovereign rating last week. A softer dollar makes bullion cheaper for buyers holding other currencies. "There's still a level of uncertainty out in the market. Most notably, the Moody's downgrade and the weakening dollar have supported the precious metals complex overall," said David Meger, Director of Metals Trading at High Ridge Futures. Meanwhile, the Pakistani rupee weakened slightly against the US dollar in the inter-bank market, registering a marginal depreciation of 0.05%. By the end of trading, the local currency settled at 281.92, down Rs0.15 compared to Monday's closing rate of 281.77. In the international market, the US dollar remained range bound after a week of gradual losses. The greenback's movement was constrained by the Federal Reserve's cautious economic outlook and progress among US lawmakers towards passing legislation, which was expected to further expand the country's fiscal deficit.
Business Recorder
20-05-2025
- Business
- Business Recorder
Gold price per tola gains Rs300 in Pakistan
Gold prices in Pakistan continued to grow in line with their increase in the international market on Tuesday. In the local market, gold price per tola reached Rs342,800 after it gained Rs300 during the day. As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs293,895 after it increased by Rs257. On Monday, gold price per tola reached Rs342,500 after it accumulated Rs4,000 during the day. The international rate of gold also jumped on Tuesday. The rate was at $3,244 per ounce (with a premium of $20), a gain of $3, as per APGJSA. Meanwhile, silver price per tola remained stable at Rs3,410.
