Connect with us

Hi, what are you looking for?

Online Business Success

Gold price rises in Pakistan by Rs400 to Rs114,500 per tola


A saleswoman displays a gold necklace inside a jewellery showroom. — Reuters
A saleswoman displays a gold necklace inside a jewellery showroom. — Reuters
  • Bullion price settles at Rs114,500 per tola on Saturday.
  • Gold dealer says that people looking for jewellery sets because of wedding season are waiting for a decline in gold prices.
  • Gold rates in Pakistan are around Rs1,000 below cost compared to the gold rate in the Dubai market.

KARACHI: The price for one tola of gold increased by Rs400 to Rs114,500 per tola on Saturday in a single day session, from Rs114,100 per tola on Friday. On Thursday, it was Rs113,500.

Similarly, the 10-gram gold rate also increased by Rs343 to Rs98,165 from Rs97,822. The nominal increase of the international bullion rate to $1,761 from $1,754 per ounce on Friday was the main reason for a direct impact on the domestic gold price.

Wedding season has begun and it will further pick up pace after Safar.

Market dealers say that a decrease in price may provide some relief to on-spot buyers and also to those who had made advance bookings for jewellery sets.

Dealers are of the view that many people would therefore wait for a decline in gold prices.

Despite the seasonal demand, the price is still very high for those middle and lower-income people who find it difficult in meeting the demand for daily use items whose prices have also gone up substantially during the last few months.

However, it is pertinent to mention that the gold rates in Pakistan are around Rs1,000 below cost compared to the gold rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,400 per tola and Rs1,200.27 per 10 grams on Saturday.

Advertisement. Scroll to continue reading.



Source link

Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement

Latest

Top Stories

Zimbabwe has been paying attention to the increasing demand for crypto among its people, which it views as a possible avenue for growth. The...

Technology

According to a 12-month analysis by Imperva Research Labs of cybersecurity risks impacting ecommerce, 57% of all attacks recorded on ecommerce websites were carried...

Top Stories

According to new legislation passed by the upper house of the country’s national parliament today, crypto businesses in Kazakhstan may soon be subjected to...

Online Business Success

Adviser to the Prime Minister on Finance Shaukat Tarin. Photo: Geo.tv/ file Finance Adviser Shaukat Tarin addresses Kamyab Jawan Convention in Islamabad. Says income...

Top Stories

With Bitcoin trading within 2% of its all-time high while Ethereum, Solana, and Polkadot push into previously uncharted price ranges, CoinGecko estimates that the...

Technology

A thirty-month international law enforcement operation codenamed ‘Operation Cyclone’ targeted the Clop ransomware gang, leading to the previously reported arrests of six members in...

Loan And Finance

Official statement from the Labour Party Notification of data incident: We wish to inform you that a third party that handles data on our...

Top Stories

Bitcoin (BTC) starts a new week on a high in more ways than one as BTC/USD seals its highest ever weekly close. After days...

Advertisement

You May Also Like

SEO Guide

Want to rank in Google image search? Images that you use as a featured images when writing a post actually appear on Google Images...

Blogging

In this post, I will discuss the top ten profitable blogging niches ideas for Adsense approval and high traffic. whether you use Blogger or...

Technology

Sonos is one of the most popular wireless speaker brands in the world, and for good reason – its range of portable Bluetooth speakers,...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Advertisement