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Gold Price in Pakistan Hits Record Rs 431,800 per Tola — Investors Turn to Safe Haven as Markets Slide

TFD — Mon, 13 Oct 2025 09:01:45 +0000

KARACHI: The price of 24-karat gold in Pakistan surged to a record Rs 431,800 per tola on Monday, reflecting growing investor demand for safe-haven assets amid financial market turbulence and a weakening rupee. According to market data, the price of 10 grams of 24-karat gold reached Rs 370,210, while 1 gram was being sold at Rs 37,021.

Bullion traders said the sharp rise was driven by global gold rallies, currency pressure, and heightened local demand. “People are moving their money from stocks and cash into gold due to uncertainty,” a leading jeweller in Karachi said.

The Pakistan Stock Exchange also witnessed selling pressure, with investors shifting focus from equities to safer assets. Analysts say the current trend could continue if inflationary pressures and currency depreciation persist.

For investors holding gold at home, the rally has brought significant capital gains. Experts advise those with large reserves to consider partial profit-taking while retaining some gold as a hedge against further economic instability. For new investors, caution is urged due to the possibility of price corrections after the steep rise.

Market observers say gold’s role as a store of value is once again proving critical during uncertain times, offering both opportunities and risks for those looking to safeguard their wealth.

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Gold Prices Hold Steady at Rs273,400 Per Tola in Pakistan

Monitoring desk — Tue, 24 Dec 2024 08:21:30 +0000

Karachi: Gold prices in Pakistan remained unchanged on Monday, staying in line with international rates. The price of gold per tola held steady at Rs273,400, while the 10-gram gold price remained at Rs234,396, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Key Highlights

Gold Prices:
- Per Tola: Rs273,400
- 10-Gram: Rs234,396
- Silver Price: Rs3,350 per tola
International Gold Rates:
- The international rate of gold remained unchanged at $2,622 per ounce, with a premium of $20.
Recent Trend:
- On Saturday, gold prices had risen by Rs2,100 per tola.

Gold rates in Pakistan often mirror international price movements, and any changes are typically influenced by fluctuations in the global markets.

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Gold rates decrease by Rs1,400 per tola

Webmaster — Sat, 22 Jun 2024 21:26:06 +0000

ISLAMABAD: The price of per tola of 24 karat gold decreased by Rs.1,400 and was sold at Rs.241,500 on Saturday against its sale at Rs. 242,900 on last trading day.
The price of 10 grams of 24 karat gold also decreased by Rs. 1,201 to Rs.207,047 from Rs. 208,248 whereas that of 10 gram 22 karat gold went down to Rs.189,793 from Rs. 190,894, the All Sindh Sarafa Jewellers Association reported.
Per tola and ten gram silver also went up by Rs. 100 and Rs. 85.76 and was sold at Rs.2,850 and Rs.2,443.41 respectively.
The price of gold in the international market decreased by $43 to $2,320 from $2,363, the Association reported. – APP

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Gold rates decrease by Rs200 to Rs.241,300 per tola

Webmaster — Sat, 15 Jun 2024 22:32:17 +0000

ISLAMABAD: The per tola price of 24 karat gold decreased by Rs. 200 and was sold at Rs. 241,300 on Saturday compared to its sale at Rs.241,500 on previous day.
The price of 10 grams of 24 karat gold also decreased by Rs.171 to Rs.206,876 from Rs.207,047 whereas the prices of 10 gram 22 karat gold went down to Rs.189,636 from Rs.1689,793 the All Sindh Sarafa Jewellers Association reported.
The price of per tola silver and 10 grams silver remained unchanged at Rs 2750 and Rs2357.68.
The price of gold in the international market increased by $9 to $2,332 from $2,323 the Association reported. – APP

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Gold price remains unchanged at Rs240,300 per tola

Webmaster — Mon, 03 Jun 2024 22:12:57 +0000

ISLAMABAD: Gold price remained unchanged in the local market at Rs240,300 per tola despite an uptick in the price of the yellow metal in the international market.
According to the data provided by the Karachi Sarafa Association, the price for one tola of 24-karat gold remained unchanged at Rs240,300. Similarly, the price for 10 grams of 24-karat and 22-karat gold remained unchanged at Rs206,019 and Rs188,850 respectively.
The gold price for one tola of 24-karat gold has been kept a significant Rs3,000 below its actual cost due to a reduction in purchasing power, said Karachi Sarafa Association. The gold price in the country decreased by Rs1,600 per tola in May after surging by Rs7,100 per tola in April. It may be noted that the gold price hit an all-time high in Pakistan on April 20 when it reached Rs252,200.
On the other hand, gold futures in the international market as of 1250 hours GMT were available at $2,333.10 per ounce, showing an increase of $6.40. Out of the $6.40 increase, +$1.55 was due to weakening of the US dollar and +$4.85 was due to predominant buyers, according to the Kitco Gold Index.
Gold traded marginally higher, as the benchmark 10-year US Treasury bond yield stayed in negative territory below 4.5 percent following the release of marginally lower-than-expected US core Personal Consumption Expenditures (PCE) data on Friday last. Core PCE came out at 0.2 percent month-on-month in April instead of 0.3 percent forecast. The data lifted the precious metal temporarily to a peak of $2,359, however, it promptly tumbled back down.
From a technical perspective, the precious metal’s medium and long-term trends are still bullish; however, short-term trends are bearish. A break above the consolidation zone at $2,362 would be required to bring into doubt the integrity of the short-term downtrend, otherwise further weakness is foreseen. On the downside, the psychological level of $2,300 is the initial support, followed by $2,277. – TLTP

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Gold price jumps by Rs2,400 to Rs242,700 per tola

Webmaster — Wed, 29 May 2024 23:01:43 +0000

ISLAMABAD: Gold price increased by Rs2,400 per tola in the local market in line with an overnight uptick in the price of the yellow metal in the international market.
According to the data provided by the Karachi Sarafa Association, the price for one tola of 24-karat gold increased to Rs242,700 from Rs240,300. Similarly, the price for 10 grams of 24-karat gold increased to Rs208,076 from Rs206,018, showing an uptick of Rs2,058. Following suit, the price for 10 grams of 22-karat gold increased to Rs190,736 from Rs188,850, showing an uptick of Rs1,886.
The gold price for one tola of 24-karat gold has been kept a significant Rs3,000 below its actual cost due to a reduction in purchasing power, said Karachi Sarafa Association. The gold price in the country surged by Rs7,100 per tola in April. It may be noted that the gold price hit an all-time high in Pakistan on April 20 when it reached Rs252,200. Earlier gold price per tola in Pakistan hit all-time highs of Rs251,900 on April 17, Rs247,300 on April 16 and Rs247,600 on April 9.
On the other hand, gold futures in the international market as of 1325 hours GMT were available at $2,344.70 per ounce, showing a decrease of $16.20. Out of the $16.20 decrease, -$4.95 was due to strengthening of the US dollar and $11.25 was due to predominant sellers, according to the Kitco Gold Index.
Gold stayed on the back foot and traded in the red below $2,350 after closing the previous three trading days in positive territory. The renewed USD strength and the recovery seen in US Treasury bond yields made it difficult for the gold price to hold its ground. Falling Chinese gold imports also weighed negatively on the gold price. Last week, China Customs data showed that China-bound shipments of gold for non-monetary use fell 30 percent in April from the previous month.
From a technical perspective, the gold price maintained its bullish potential, as the 14-day Relative Strength Index (RSI), was above the 50 level, currently trading near 52.60. Adding credence to the upside bias, the gold price closed on Tuesday above the key 21-day Simple Moving Average (SMA) resistance at $2,353. A sustained move above the abovementioned barrier at $2,372 would provide legs to the ongoing recovery, calling for a test of the next topside barrier at the May 24 high of $2,384. Further up, a test of the $2,400 mark will be inevitable. On the flip side, the immediate support is now aligned at the 50-day SMA support at $2,323, followed by the $2,300 threshold. – TLTP

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Gold price firms up at Rs228,600 per tola

Webmaster — Tue, 12 Mar 2024 00:46:34 +0000

ISLAMABAD: Gold price in the country remained unchanged on Monday after surging for nine consecutive sessions, following a consistent surge in the prices in international markets where they stood at all-time high.
According to the data provided by the Karachi Sarafa Association, the price for one tola of 24-karat gold remained unchanged at Rs228,600. Similarly, the price for 10 grams of 24-karat and 22-karat gold remained stable at Rs197,360 and Rs180,913, respectively.
Earlier, gold price in the country surged last week by Rs9,900 (+4.49 percent) per tola. The gold rate for a single tola of 24-karat increased to Rs230,200 from Rs220,300. Similarly, the price of 10 grams of 24-karat gold increased to Rs197,360 from Rs188,872, reflecting an uptick of Rs8,488. Following suit, the price for 10 grams of 22-karat gold surged to Rs180,913 from Rs173,132, reflecting an uptick of Rs7,781.
During the month of February, the price for one tola of 24-karat gold increased by Rs200 to Rs215,700 from Rs215,500 while in January, the price for one tola of 24-karat gold decreased by Rs4,500 to Rs215,500 from Rs220,000.
On the other hand, gold futures in the international market as of 1325 hours GMT were available at $2,178 per ounce, showing a minor dip of $0.60. Out of the $0.60 decrease, -$2.55 was due to strengthening of the US dollar and +$1.95 was due to predominant buyers, according to the Kitco Gold Index.
Gold stayed in a consolidation phase at around $2,180 after setting a new record high of $2,195 on Friday. The benchmark 10-year US Treasury bond yield held steady slightly below 4.1 percent, limiting volatility in the gold price. Bulls seemed reluctant to place fresh bets around the precious metal amid extremely overbought conditions on the daily chart and ahead of the release of the latest US consumer inflation figures on Tuesday.
From a technical perspective, the Relative Strength Index (RSI) on the daily chart is flashing extremely overbought conditions. Any meaningful corrective slide is likely to find decent support near Friday’s swing low, around the $2,154 region. A convincing break below might prompt some technical selling and drag the gold price further towards the $2,125 intermediate support en route to the $2,100 round figure.
On the flip side, bulls might now wait for a move beyond the $2,200 mark, above which the gold price will enter uncharted territory and build on its recent strong gains registered over the past month or so. – TLTP

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Gold price falls over 11pc after rising for 3 weeks

Webmaster — Sun, 10 Sep 2023 22:56:40 +0000

ISLAMABAD: Gold price in the country dropped by Rs27,300 (-11.38 percent) per tola on a week-on-week basis after surging for three straight weeks, following rupee’s appreciation against the US dollar as well as a dip in international prices.
The gold rate in Pakistan for a single tola of 24-karat on a week-on-week (WoW) basis decreased to Rs212,500 from Rs239,800, according to the data provided by All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

Similarly, the gold rate for 10 grams of 24-karat dipped to Rs182,184, while the 22-karat gold rates for 10 grams went down to Rs167,002
In the preceding three weeks, the price surged by Rs8,500 (+3.63 percent), Rs6,700 (+2.95 percent) and Rs5,600 (+2.52 percent) per tola on a week-on-week basis. Prior to this, the gold price for a single tola of 24-karat in the country fell by Rs2,000 during the preceding three weeks.
It is essential to understand that the exchange rate and international market prices play a direct and influential role in shaping the prices of precious metals like gold in Pakistan. The Pakistani rupee’s appreciation against the US dollar kept the gold price lower in the country. The rupee appreciated last week by 8.68 percent in the open market and 0.82 percent in the interbank market.
Market analysts attributed the big decrease in gold prices to the ongoing depreciation in the international prices as well as appreciation of Pakistani rupee against the US dollar in the open market.
Since gold is denominated in the US dollars when the local unit appreciates against the greenback, the value of gold in the local market falls. Furthermore, the local bullion was influenced by the positive news surrounding the recent meeting between Chief of Army Staff (COAS) Asim Munir and the business community. During the meeting, COAS Munir highlighted the crucial role of the Special Investment Facilitation Council (SIFC) and emphasised its potential to attract significant investments, estimated at up to $100 billion. This positive outlook may have boosted investor confidence, reducing the appeal of assets like gold.
In global markets, gold closed the week at $1,918.70 per ounce against $1,939.60 in the preceding week, showing a week-on-week decrease of $20.90 (-1.08 percent). This was the first weekly loss for gold price after it registered two consecutive weekly gains.
Gold price opened the week lower and fell for the first three days of the week. It touched the $1,915 region on Wednesday. However, it gained some positive traction on Thursday and Friday, eroding some of the loss of the week. Against the backdrop of concerns about the worsening economic conditions in China, a downward revision of Japan’s second-quarter GDP growth fuelled worries about a deeper global downturn. Apart from this, the worsening US-China relations – the world’s two largest economies – dr0ve some haven flows towards the gold price.
This came after US Secretary of Commerce Gina Raimondo’s comments earlier this week that she didsn’t expect any changes to the US tariffs imposed on China by the Trump administration until the ongoing review by the US Treasury is complete. The developments continue to weigh on investors’ sentiment, which was evident from the prevalent cautious mood around the equity markets. Apart from this, a modest US dollar weakness was seen lending additional support to the gold price. – TLTP

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Gold barely moves, caught again in Fed hike-inflation crossfire

Webmaster — Thu, 30 Jun 2022 22:40:53 +0000

LONDON: To the active commodities investor, the past fortnight on the gold market could be described as anything but active. To borrow that old cliche, it was probably as exciting as watching paint dry.
In Wednesday’s trade, front-month gold futures for August on New York’s Comex settled down $3.70, or 0.2%, at $1,817.50 an ounce after being caught again in the Fed rate hike-inflation crossfire. It was virtually a replay of Tuesday, when the price dropped $3.60.
To the gold bug, however, the pedestrian moves within a $20 band since the close of June 17 was testimony of the yellow metal’s inherent strength in facing up to relentless rate hike talks by the Federal Reserve.
To bears looking to short gold, the action of the past fortnight shows its struggle in getting past $1,850 and shows promise to their aim of hammering it back down to $1,700 levels.
“Gold is still stuck in a wide trading range, but a collapse below the $1800 seems less likely as the dollar peak might be in place,” said Ed Moya, markets analyst at online trading platform OANDA.
But Moya’s colleague Jeffrey Halley, who oversees Asia Pacific research for OANDA, has a different outlook for gold.
“Gold remains the forgotten asset class,” Halley opined. “A series of lower daily highs suggests that downside risks are increasing for gold prices, although it still lacks momentum to break out of the $1800 to $1900.00 range. Bring a good book until we see a large directional move by the U.S. dollar.”
The question of how gold will react to inflation has been a conundrum for investors ever since it rose to record highs above $2,100 in August 2020, then collapsed to $1,600 levels at one point before recapturing the $2,000 level earlier this year, albeit briefly. Despite its much-touted standing as a hedge against inflation, gold’s relationship with price pressures has barely been constant the past two years.
U.S. inflation, on the other end, has consistently risen the past nine months while the nation’s economy has been constantly under threat.
Latest data from the Commerce Department on Wednesday showed that U.S. Gross Domestic Product contracted by 1.6% for the first quarter versus the 6.9% growth in the fourth quarter of last year. The department issues three GDP readings for each quarter. What was interesting about the first quarter was that each of the last two estimates came in a percentage point lower than previously.
The GDP reading reinforced market expectations that the United States was headed for a recession. With the 1.6% contraction in the first quarter, the economy will technically slip into a recession if it does not return to positive growth by the end of the second quarter, which ends Thursday.

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Gold rides Fed wave to weekly gain

Webmaster — Sat, 06 Nov 2021 20:12:56 +0000

NEW YORK: Gold prices gained on Friday as they shrugged off stronger-than-expected monthly jobs data, and the precious metal was on pace to post a weekly gain of nearly 1% after major central banks struck a dovish tone on interest rates.
Spot gold rose 0.7% to $1,804.11 per ounce by 1516 GMT, recovering from a 0.3% drop shortly after data showed US employment increased more than expected in October.
US gold futures for December delivery gained 0.6% at $1,803.60 per ounce.
The limited reaction to the data shows “despite the strong labor market report, it is not going to change what Federal Reserve Chair Jerome Powell signalled this week,” said Edward Moya, senior market analyst at brokerage OANDA.

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