Gold prices soar significantly
The surge triggered local gold prices up by Rs3,600 to Rs361,200 per tola and Rs3,087 to Rs309,671 per 10 grams, All Pakistan Sarafa Gems and Jewellers Association said.
Domestic and international silver prices held steady at Rs4012 per tola and Rs3439 per 10 grams. Global silver prices remained at $39 per ounce, the association added.
It is worth noting that the open market may trade gold and silver at different prices as compared to those fixed by the association.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
42 minutes ago
- Express Tribune
IMF seeks plan to end circular debt
The International Monetary Fund (IMF) has asked Pakistan to submit a comprehensive plan to eliminate the growing circular debt. According to sources, the gas sector's circular debt has soared to Rs2,800 billion, causing severe financial strain on Sui gas companies and other state-run oil and gas entities. In response, the government is working on a strategy to address the crisis, which includes securing a Rs2,000 billion loan from banks on favourable terms. Negotiations are reportedly underway with banks to reduce or waive interest rates. The government is also considering imposing a petroleum levy of Rs3 to Rs10 per litre and an additional surcharge on gas bills to raise funds for debt repayment. Through the proposed petroleum levy alone, it expects to generate around Rs180 billion. The repayment of the bank loans is expected to span five years. Meanwhile, the government will also need to reduce the operational losses of gas companies to effectively tackle the circular debt issue.
Business Recorder
13 hours ago
- Business Recorder
Gold price per tola gains Rs3,700 in Pakistan
Gold prices in Pakistan increased on Wednesday in line with their gain in the international market. In the local market, gold price per tola reached Rs364,900 after a gain of Rs3,700 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs312,842 after it accumulated Rs3,171. On Tuesday, gold price per tola remained stable at Rs361,200. The international rate of gold also saw an increase today. The rate was at $3,424 per ounce (with a premium of $20), a gain of $37, as per APGJSA. Meanwhile, silver price per tola increased by Rs46 to reach Rs4,081.
Business Recorder
21 hours ago
- Business Recorder
Ogra holds seminar to initiate comprehensive digital platform
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has conducted a seminar at its headquarters to formally initiate a comprehensive digital platform to fully digitise Pakistan's oil supply chain and is at highly advanced stage of the development. The digitisation will cover the import terminals to the fuel dispensing stations, in a move aimed at eliminating inefficiencies, curbing pilferage, and restoring public trust in the energy sector. In a decisive statement, Ogra Chairman, Masroor Khan, affirmed: 'Pakistan's oil sector must embrace digitisation — fully and without delay. From the point of import to the petrol pump, every link in the supply chain must be digitally monitored. Digitisation is essential not just for operational efficiency, but also for national transparency and integrity.' The Ogra is committed to leading this transition and will not tolerate any obstruction, whether deliberate or due to neglect. 'Let me be clear: any obstruction to digitisation — whether by design, neglect, or vested interest — will be addressed firmly. We cannot allow outdated systems to hold back national progress,' the chairman added. Under this initiative, every component of the oil supply chain — including refineries, storage terminals, tank lorries, Oil Marketing Company (OMC) depots, and retail fuel stations — will be brought under a unified digital oversight framework. This real-time monitoring system will allow for improved tracking, better data integrity, and enhanced regulatory control. OGRA clarified that this initiative is not a proposal, but a regulatory mandate. 'Digitisation is now a legal requirement. Clear timelines and enforceable penalties will ensure compliance. All stakeholders must align with this transformation or face regulatory consequences.' This bold move positions Pakistan among progressive nations that are integrating technology with energy regulation to enhance national efficiency, reduce economic losses, and build public confidence, the Ogra spokesman said. Copyright Business Recorder, 2025
