Search

Gold price surges by Rs2,000 per tola in Pakistan

05:59 PM | 22 May, 2023
Gold price surges by Rs2,000 per tola in Pakistan
Source: File Photo

KARACHI – Gold prices surged in the domestic market on Monday as the Pakistani rupee remained under pressure against the US dollar in the interbank market.

The price of per tola gold increased by Rs2,000 to close at Rs237,300 while the price of 10 grams of 24 carats gold went up by Rs1,714 to settle at Rs203,446, according to the All-Pakistan Sarafa Gems and Jewellers Association’s (APSGJA) data.

In the international market, the price of the precious commodity decreased by $5 to settle at $1,972 per ounce.

Meanwhile, the price of silver increased by Rs50 per tola and Rs42.87 per 10 grams to close at Rs2,900 and Rs2,486.28, respectively.

Advertisement

Rupee below 290 against US dollar in interbank market

KARACHI – The Pakistani rupee on Tuesday continued its ascent, trading at less than Rs290 against the US dollar in the morning interbank market, primarily due to stringent measures in the financial sector.

The US dollar was valued at Rs289.78 around 9:48 am, as reported by the Forex Association of Pakistan, marking a decrease of Rs1.18 from the previous day’s closing rate of Rs290.86.

This ongoing rise in the value of the rupee follows the crackdown on illegal dollar trading initiated earlier this month, with strong support from the military.

In the open market, the rupee also made gains against the dollar, trading at Rs292 compared to the previous day’s rate of Rs293, according to the Exchange Companies Association of Pakistan.

Saad Bin Naseer, the director of the financial services platform Mettis Global, noted that this marked the 16th consecutive day of appreciation for the PKR, amounting to nearly a 6% increase.

Naseer attributed this surge primarily to administrative measures, stating that it seems the government’s crackdown on speculative elements contributing to rupee depreciation is having an effect.

He also suggested that if this trend persists and the Afghan border remains closed, the rupee could continue to appreciate in the future. However, he emphasized the importance of attracting foreign direct investment (FDI) into export-oriented sectors for long-term stability.

Gold Rate in Pakistan Today – September 26, 2023

Today Gold Rate in Pakistan

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 210,100 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs180,130.

Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

Today Gold Price in Pakistan - 26 September 2023

City Gold Silver
Lahore PKR 210,100 PKR 2,587
Karachi PKR 210,100 PKR 2,587
Islamabad PKR 210,100 PKR 2,587
Peshawar PKR 210,100 PKR 2,587
Quetta PKR 210,100 PKR 2,587
Sialkot PKR 210,100 PKR 2,587
Attock PKR 210,100 PKR 2,587
Gujranwala PKR 210,100 PKR 2,587
Jehlum PKR 210,100 PKR 2,587
Multan PKR 210,100 PKR 2,587
Bahawalpur PKR 210,100 PKR 2,587
Gujrat PKR 210,100 PKR 2,587
Nawabshah PKR 210,100 PKR 2,587
Chakwal PKR 210,100 PKR 2,587
Hyderabad PKR 210,100 PKR 2,587
Nowshehra PKR 210,100 PKR 2,587
Sargodha PKR 210,100 PKR 2,587
Faisalabad PKR 210,100 PKR 2,587
Mirpur PKR 210,100 PKR 2,587

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter