Latest news with #Rs351
Business Recorder
27-05-2025
- 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.
Express Tribune
26-05-2025
- Business
- Express Tribune
Gold falls Rs2,600 on global slowdown
Globally, gold prices rose for a third straight session, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty. photo: Reuters Local gold prices declined on Monday, tracking a slowdown in the international bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped by Rs2,600 per tola, settling at Rs351,500 in the local market. The price of 10-gram gold also fell by Rs2,228, closing at Rs301,354. The downturn comes after a notable gain over the weekend when gold prices surged by Rs3,100 per tola on Saturday to hit Rs354,100. Globally, gold prices also saw a dip on Monday. The international rate stood at $3,331 per ounce (including a $20 premium), reflecting a decrease of $26, according to APGJSA. Adnan Agar, Director at Interactive Commodities, noted that market activity was subdued due to a US bank holiday, with early closure and minimal trading volumes. "The market is practically flat today. The high was $3,356, while the low touched $3,323. It's currently hovering around $3,335," he said. Agar added that the recent easing of trade tensions between the US and Europe also contributed to the decline. The issue of additional European tariffs, hinted at by former President Donald Trump on Friday, was resolved over the weekend after discussions with the European Union. Trump agreed to delay the tariffs, which led to pressure on gold prices. He further predicted that prices may continue to slide once international markets resume full operations on Tuesday. Meanwhile, the Pakistani rupee recorded a minor loss against the US dollar on Monday, slipping by 0.03% in the inter-bank market. The local currency closed at 282.06, down by Rs0.09 from the previous session, according to data released by the State Bank of Pakistan (SBP). During the preceding week, the rupee had also weakened slightly, depreciating by Rs0.31 or 0.11%, ending at 281.97 against the greenback compared to 281.66 a week earlier. "At the close of the trading session, the Pakistani rupee depreciated by 0.03% day-on-day (DoD) against the US dollar, settling at 282.06. On a calendar year-to-date (CYTD) basis, the rupee has weakened by 1.24%, while the depreciation stands at 1.32% on a fiscal year-to-date (FYTD) basis," wrote Ismail Iqbal Securities. On the global front, both the euro and the US dollar gained ground against traditional safe-haven currencies like the Japanese yen and Swiss franc. The uptick followed former US President Donald Trump's announcement of a July 9 deadline for finalising a trade agreement with the European Union, effectively withdrawing his earlier threat of imposing a 50% tariff starting June 1.
Express Tribune
26-05-2025
- Business
- Express Tribune
Gold prices drop in global, local markets
Listen to article Gold prices saw a decline in both global and local markets today, as a weakening demand caused significant price drops. The price of gold in the international bullion market fell by $26 per ounce, settling at $3,331 after a three-day break. Following the global downturn, local gold markets also witnessed a price reduction. On Monday, the price of 24-karat gold dropped by Rs2,600 per tola, bringing it to Rs351,500. Similarly, the price of gold per 10 grams also saw a decline of Rs2,228, now priced at Rs301,354. In contrast, silver prices remained stable. The price of one tola of silver stood unchanged at Rs3,508, while the price for 10 grams was also steady at Rs3,007. On Saturday, gold prices had increased in line with an upward trend in the international market. In the local market, the price of gold per tola rose to Rs354,100, reflecting a gain of Rs3,100 during the day.
Business Recorder
23-05-2025
- Business
- Business Recorder
Gold price per tola increases Rs3,500 in Pakistan
Gold prices in Pakistan gained on Friday in line with their increase in the international market. In the local market, gold price per tola reached Rs351,000 after it gained Rs3,500 during the day. Similarly, 10-gram gold was sold at Rs300,925 after gaining Rs3,000, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Thursday, gold price per tola reached Rs347,500 after it lost Rs1,900 during the day. The international rate of gold also jumped on Friday. The rate was at $3,326 per ounce (with a premium of $20), an increase of $35, as per APGJSA. Meanwhile, silver price per tola increased by Rs38 to reach Rs3,466.
