Gold price hits Rs 54,850 per tola

The yellow metal price hits a record high in Pakistan and in world markets on Monday on back of poor returns on bonds, no immediate signs of revival in the world largest economies and higher buying by China, India and some European countries.

Price of gold increased by Rs 1,114 per tola to reach at Rs 54,850 per tola in a single day on Monday whereas its international price increased by $41 per ounce to hit $1705 per ounce mark, the metal experts said.

Pakistan gold prices steady

KARACHI: After constantly rising in previous sessions, gold prices in major bullion market of the country remained unchanged.

Gold prices remained intact at Rs. 52,100 per tola in Karachi, reported by the Karachi Saraf Jewellers Association while price of 10 grams gold was also remain unchanged at Rs. 44,657.

On the other hand, silver price was recorded at Rs. 1,062.85 per 10 gram.

In the International market, Gold edged down on Friday and recorded at $1,613.46 an ounce as the dollar regained strength on Moody’s warning to downgrade Spain, while investors continued to watch U.S. debt ceiling talks after Republicans delayed a vote on a debt plan.

Pakistan gold price eases

After touching its new high in the first day of the week, gold prices dipped slightly in major bullion markets on Tuesday.

In Karachi, Gold prices went down by Rs. 100 and recorded at Rs. 51,800 per tola on Tuesday. The price of 10 grams gold also declined by Rs. 85 and touched the level of Rs. 44,400.

On the other hand, silver prices were recorded at Rs. 1,071.42 per 10 gram.

In the International market, Gold held steady at $1,615.60 below its record high on Tuesday as investors waited to see if President Barack Obama’s appeal for lawmakers to break a deadlock in U.S. debt talks would succeed, while the euro zone debt crisis lent support.

Gold plunged to Rs 41,442

Gold plunged by Rs 343 to Rs 41,442 per 10 grams in local bullion market as its international price also dipped to $ 1,495 an ounce, market sources said.

According to Karachi Saraf Association, tola (11.664 grams) price also soured by Rs 400 to Rs 48,350.

Silver closed lower at Rs 1,054.28 per 10 grams.

From: Brecorder

Gold price declines by Rs800/tola

Gold price after touching a record high has begun to come down and in international market the price of yellow metal has dropped by as much as 40 dollar per ounce to 1485 dollars from 1500 in just one day, Geo News reported Thursday.

The local gold markets have also taken the impact of this decline and according to President All Sindh Sarafa Association, Haji Haroon Rashid Chand, the rate of gold slashed by Rs800 per tola to Rs47,950 and Rs685 per 10-grams to Rs41,100.

The rate of silver has also taken a hit and witnessed a decline of Rs200 per tola to Rs1,150.