Latest news with #Rs357
Business Recorder
13 hours ago
- Business
- Business Recorder
Gold price per tola falls Rs1,595 in Pakistan
Gold prices in Pakistan decreased on Friday in line with their fall in the international market. In the local market, gold price per tola reached Rs357,000 after a decline of Rs1,595 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs306,069 after it fell Rs1,368. On Thursday, gold price per tola reached Rs358,595 after a decline of Rs460 during the day. The international rate of gold also decreased today. The rate was at $3,356 per ounce (with a premium of $20), a decrease of $16, as per APGJSA. Meanwhile, silver price per tola decreased by Rs24 to reach Rs3,796.
Express Tribune
27-04-2025
- Business
- Express Tribune
Vegetable, fruit prices maintain upward trend
An upward trend in the prices of seasonal fruits and vegetables was recorded this week, accompanied by widespread overcharging. Vendors were seen selling perishable goods at prices 50 to 100 per cent higher than official rates, even while displaying the mandated rate lists. Customers who questioned the discrepancies were often told to shop elsewhere if they wanted official prices. Vendors claimed that the rate lists served only a cosmetic purpose, citing the higher prices at wholesale markets as justification for their overcharging. For the first time in two and a half months, the official price of live chicken was reduced by Rs27 per kilogram, set between Rs357 and Rs371. However, vendors did not sell live chickens; instead, chicken meat was sold at Rs500 to Rs600 per kilogram, and boneless chicken at Rs950 to Rs1,000 per kg. The official price of soft-skin A-grade potatoes remained unchanged at Rs45 to Rs50 but it was sold at Rs80 to Rs100 per kilogram. Mixed varieties were sold at Rs50 to Rs70 per kilogram. A-grade onions increased by Rs5 per kilogram to Rs45 to Rs50 per kilogram but were sold at Rs80 to Rs100 per kg. Tomato prices for A-grade quality rose by Rs10 per kilogram, fixed at Rs45 to Rs50 but sold at Rs120 to Rs130 per kilogram. Farm cucumbers rose by Rs5 per kilogram to Rs47 to Rs50 per kilogram but sold at Rs80 to Rs100, while local cucumbers were sold at Rs120 to Rs130 per kilogram. Spinach prices fell by Rs5 per kilogram, officially set at Rs18 to Rs25 but sold at Rs50 to Rs60 per kilogram. Chinese lemons increased by Rs60 per kg to Rs190 to Rs200 per kilogram but were sold at Rs400. Green chilies rose by Rs10 per kilogram to Rs105 to Rs110 but sold at Rs180 to Rs200 per kilogram. Capsicum prices increased by Rs10 per kilogram to Rs47 to Rs50 per kilogram but were sold at Rs100 to Rs140 per kilogram. Cauliflower prices rose by Rs20 per kilogram to Rs57 to Rs60 but sold at Rs100 to Rs140 per kilogram, while cabbage prices remained at Rs28 to Rs30 but was sold at Rs100 to Rs150 per kilogram. The price of A-grade bananas fell by Rs10 per dozen to Rs215 to Rs240 but were sold at Rs350 to Rs400 per dozen. Guava prices increased by Rs5 to Rs115 to Rs150 per kilogram but were sold at Rs200 to Rs250. Dates were priced at Rs430 to Rs460 per kilogram but sold at Rs900 to Rs2,000.
Express Tribune
21-04-2025
- Business
- Express Tribune
Global unrest sends gold soaring
Gold prices surged to record highs in both domestic and international markets on Monday, driven by escalating global tensions and weakening currencies. In Pakistan, the price of gold per tola jumped by Rs8,100, reaching an all-time high of Rs357,800, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This comes after prices remained unchanged on Saturday at Rs349,700 per tola. However, a few days ago, gold had touched the mark of Rs350,000 per tola. International prices of gold for Pakistan continued their upward trajectory, with global rates touching $3,395 per ounce. This marks a daily gain of $69. APGJSA President Muhammad Qasim Shikarpuri attributed the rally to "intensifying economic tensions" between the United States and China. Gold has reached new heights, both locally and globally, he said. The current standoff between the US and China has left neither side willing to compromise, as retreating would be economically disastrous for both, he said. He warned that if the situation continues, it could trigger a global financial crisis. "The pace at which gold is rising, driven by tariff-related tensions, is causing currencies worldwide to depreciate," Shikarpuri added. He further cautioned that Pakistan's own exchange rate could become unsustainable if the gold price continues its upward march. "If gold hits Rs450,000 per tola as expected within this month, managing the exchange rate will become increasingly difficult. A sudden spike in the rupee-dollar rate is a real possibility." While a brief correction in gold prices may occur, Shikarpuri believes it will not signal a downturn but rather a pause before another rally. "Unless the US and China engage in meaningful negotiations, gold prices are likely to climb further," he said. Domestically, the market is also grappling with a supply crunch. "Investor demand for gold remains strong, but the physical supply is limited. Buyers are active, but sellers are absent," he noted. In such a scenario, if international prices do not ease, domestic prices will continue their ascent. He advised investors against selling their gold holdings, citing strong local demand and tight supply. Internationally, gold surged above $3,400 to a record high on Monday, as the dollar weakened and uncertainty over the economic impact of US-China trade tensions spurred demand for safe-haven bullion. Spot gold rose 2.6% to $3,415.24 an ounce at 1446 GMT. Prices hit a record high of $3,424.25 earlier in the session. US gold futures rose 3% to $3,426.30. The dollar tumbled as investor confidence in the US economy took another hit over President Donald Trump's comments about Federal Reserve Chairman Jerome Powell. A weaker dollar makes bullion more appealing for other currency holders. Meanwhile, the Pakistani rupee recorded a slight dip against the US dollar on Monday, slipping by 0.05% in the inter-bank market. By the close of trading, the local currency stood at 280.87 against the greenback, reflecting a decline of 15 paisas from Friday's closing rate of 280.72. Meanwhile, the US dollar weakened globally as investor sentiment took a hit following concerns over Trump's intentions to reshape the Federal Reservea move that could raise questions about the central bank's independence.
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.
