Latest news with #Rs369
Business Recorder
28-04-2025
- Business
- Business Recorder
Gold: price disparity confuses investors
KARACHI Gold buyers in Pakistan face conflicting pricing trends, with the open market hitting a historic high of Rs369,300 per tola, while the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) announced a sharp decline to Rs347,100 per tola, traders said on Monday. The disparity has left investors confused, as the open market reflects real-time global trading dynamics, whereas APSGJA—a non-trading platform —sets benchmark rates. According to the association, gold fell by Rs1,600 and Rs1,368 to Rs347,100 per tola and Rs297,582 per 10 grams, respectively. In contrast, open market rates surged amid active trading. Globally, gold dipped by $16 to $3,289 per ounce, while silver held at $33 per ounce. Domestically, APSGJA quoted silver at Rs3,497 per tola and Rs2,998 per 10 grams. Analysts note the open market's rates align more closely with international fluctuations, unlike the association's fixed valuations, creating a dual pricing challenge for traders and consumers. Copyright Business Recorder, 2025
Business Recorder
28-04-2025
- Business
- Business Recorder
Gold prices soar to record-breaking Rs369,000 per tola
KARACHI: Gold prices in Pakistan have saw an extraordinary journey from 1947 to 2025. The precious yellow metal, once available at just Rs57 per tola at the time of independence, has now soared to a record-breaking Rs369,000 per tola. In 1947, gold was priced at Rs57 per tola. Throughout the 1950s and 1960s, gradual increases were observed, crossing Rs100 by the late 1950s and reaching Rs176 by 1969. Despite periodic fluctuations, the overall trend remained upward. The 1970s marked a transformative era. Economic upheavals and political instability propelled gold prices sharply upward, reaching Rs432 per tola in 1973 and soaring to Rs2,250 per tola by 1980. Although the 1980s witnessed occasional dips, global inflation and market instability kept prices generally on the rise. During the 1990s, gold prices hovered between Rs3,000 and Rs6,000 per tola. The trend shifted dramatically after the 2008 global financial crisis, with gold emerging as a safe-haven asset, climbing to Rs23,500 per tola by the end of that year. From 2010 onwards, gold experienced a steep surge. In 2011, prices crossed Rs50,000 per tola for the first time. During the Covid-19 pandemic in 2020, gold breached Rs100,000 per tola, reflecting global uncertainty and local economic pressures. Copyright Business Recorder, 2025
