Latest news with #Rs306
Business Recorder
5 days ago
- Business
- Business Recorder
Gold price per tola gains Rs2,500 in Pakistan
Gold prices in Pakistan increased on Friday in line with their gain in the international market. In the local market, gold price per tola reached Rs357,600 after a gain of Rs2,500 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs306,584 after it accumulated Rs2,143. On Thursday, gold price per tola reached Rs355,100 after a loss of Rs900 during the day. The international rate of gold also increased on Friday. The rate was at $3,351 per ounce (with a premium of $20), a gain of $25, as per APGJSA. Meanwhile, silver price per tola increased by Rs48 to reach Rs4,012.
Express Tribune
04-07-2025
- Business
- Express Tribune
Foreign exchange reserves near $20b
Delay in loans will not adversely affect Pakistan's external sector position in the short term due to $16 billion in gross foreign exchange reserves. PHOTO: FILE Listen to article Just two years ago, Pakistan struggled to cover even a few weeks of import and export payments. Now, the country's external position has shown a significant turnaround, with total liquid foreign exchange reserves reaching $19.87 billion amid improved inflows and growing political stability. According to the State Bank of Pakistan (SBP), foreign exchange reserves held by the central bank surged to $14.51 billion, marking a sharp year-on-year increase of $5.12 billion, or 54.5%, from $9.39 billion a year earlier. The SBP attributed the rise in reserves to the realisation of inflows including $3.1 billion in commercial loans and over $500 million from multilateral institutions during the final week of June. "This reflects a noticeable improvement in the country's current account balance and realisation of planned inflows during the year," the SBP stated. During the week ending June 27, 2025, SBP's reserves rose by $3.66 billion, climbing to $12.73 billion from $9.06 billion reported the previous week. Total liquid reserves now stand at $19.87 billion, with commercial banks holding $5.36 billion. The dramatic recovery in the last week of FY25 followed a $2.66 billion drop the week before, driven by external debt repayments. The rebound is seen as a result of stabilisation efforts and fiscal reforms aimed at supporting the external account. This rise in reserves is expected to support the rupee, improve import cover, and strengthen Pakistan's position in future talks with international lenders. The Pakistani rupee showed a slight gain against the US dollar in the interbank market on Thursday, appreciating by 0.03% to close at 283.86, up 9 paisas from the previous day's closing rate of 283.95. Meanwhile, domestic gold prices rose on Thursday despite a 1% decline in the international bullion market following stronger-than-expected US payroll data, which dampened expectations of an early rate cut by the US Federal Reserve. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola increased by Rs800 to Rs357,000. The 10-gram gold price also rose by Rs685 to settle at Rs306,069. This followed a dip in prices a day earlier, when the per tola rate dropped by Rs600 to Rs356,200. Despite local gains, international sentiment remained bearish. Adnan Agar, Director at Interactive Commodities, said gold traded between $3,311 and $3,363 globally, with prices hovering around $3,325. He noted a key support level between $3,310 and $3,300, warning that a break below this range could push prices down to $3,250. He added that due to the US bank holiday on Friday, trading volumes were expected to remain low, with significant activity likely to resume on Monday.
Business Recorder
21-06-2025
- Business
- Business Recorder
Gold prices further slip
KARACHI: Gold prices further slipped on Friday, mirroring international bullion market's persistent downturn, sliding near $3,350 per ounce, traders said. World market lost $16, as persistent fall dragged down bullion value to $3,356 per ounce, impacting the local gold prices significantly, according to the All Pakistan Sarafa Gems and Jewellers Association. The fresh drop pushed the local gold prices further down by Rs1,595 and Rs1,368, settling at Rs357,000 per tola and Rs306,069 per 10 grams respectively, it said. Domestic silver prices also saw a dip by Rs24 and Rs1 to Rs3,796 per tola and Rs3,254 per 10 grams. World silver rates stood at over $36 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
Business Recorder
20-06-2025
- 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.
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.
