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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
13 hours ago
- 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 hours ago
- Business Recorder
Punjab sports-related initiatives highlighted
LAHORE: Provincial Minister for Sports & Youth Affairs Malik Faisal Ayub Khokhar said the Punjab government aims to engage youth in positive activities through sports and sports-related initiatives and youth empowerment plans included in Punjab's Annual Development Programme (ADP) 2025–26. Speaking at a news conference here Thursday, Malik Faisal Ayub Khokhar stated that a budget of Rs7.6 billion has been allocated for the Sports and Youth Affairs Department this year. He emphasized that the Punjab government's top priority is to provide opportunities to the youth and ensure the development of modern sports infrastructure. He informed the media that under last year's 'Khelta Punjab' programme, more than 120,000 athletes participated. This year, the initiative is being expanded further with talent hunt events being organized across districts, and significant work is already underway to rehabilitate and improve existing sports infrastructure. The Provincial Minister also shared that the first phase of the Chief Minister's Internship Programme has been successfully completed, benefiting 6,000 youth with a monthly stipend of Rs25,000. In Phase Two, the number of interns will be increased to 10,000, and the stipend will be raised to Rs60,000 per month. He further revealed that for the first time in the province's history, a Sports Endowment Fund has been established, under which athletes are being supported with funds of Rs30,000, Rs50,000, and Rs70,000. A Self-Sustaining System is also being introduced to address salary-related issues of sports department employees on a permanent basis, he added. He also highlighted that under the up-gradation of Punjab Stadium, Nishtar Park, Lahore, increasing seating capacity from 6,000 to 10,000. Scheme of Construction of a 102-room hotel/hostel at Nishtar Park Sports Complex at a cost of Rs800 million also approved. He also briefed about schemes of development of an Indoor Sports Arena for table tennis, snooker, board games, indoor rowing, revival of the International Boxing Arena, construction of a baseball ground in Lahore, rehabilitation and construction of Velodrome, Swimming Pool, Indoor Volleyball Complex, construction of Padel Tennis Courts in Lahore, Multan, and Sialkot while multipurpose Sports Facilities will be established along Rahim Yar Khan, Muridke, and Narowal Road. The Minister emphasized that the Punjab Government is working to revive traditional sports like Kabaddi, reconnecting the youth with cultural roots. He said that more projects will be included in the upcoming fiscal year and equal sports opportunities will be provided in every district of the province. Malik Faisal Ayub Khokhar concluded by stating, 'Our goal is not just to build infrastructure but to ensure its sustainable and autonomous management.' Under the vision of the Chief Minister, every possible step is being taken to empower youth, promote sports, and prepare future champions. Copyright Business Recorder, 2025
Express Tribune
a day ago
- Express Tribune
Foreign exchange reserves top $17b
The central bank said in its latest weekly update on Thursday that the country's foreign exchange reserves, held by the SBP, decreased $66 million to $8.15 billion in the week ended January 5, 2024 due to debt repayments. photo: file Listen to article Pakistan's total liquid foreign exchange reserves rose to $17.1 billion as of June 13, 2025, according to data released by the State Bank of Pakistan (SBP) on Thursday. During the week ended June 13, SBP-held reserves increased $46 million, reaching $11.7 billion. Meanwhile, net foreign reserves held by commercial banks stood at $5.3 billion. The increase in reserves is due to continued foreign inflows and central bank's purchases of dollars from local market. This has a dual impact on the economy. On the one hand, it provides cushion against upcoming external payment obligations and strengthens foreign currency reserves. On the other hand, it prevents the rupee from becoming stronger. In fact, the rupee has recently been on a downward trajectory, losing three rupees against the dollar in just one and a half month, reaching an 18-month low. Increasing imports and debt repayments are also the driving factors. This currency decline further erodes the already weak purchasing power of people. The State Bank reported net foreign exchange interventions of $223 million in February 2025, bringing cumulative purchases to $5.3 billion for the first eight months of FY25 (July 2024 to February 2025). On Thursday, the Pakistani rupee recorded a loss against the US dollar, slipping 0.03% in the inter-bank market. By the end of the session, the local currency stood at 283.64, down nine paisa compared to the previous day's close at 283.55. Meanwhile, gold prices in Pakistan declined on Thursday, mirroring a soft trend in the international market where bullion remained largely steady as escalating geopolitical tensions in the Middle East balanced the downward pressure from the US Federal Reserve's hawkish monetary outlook. Meanwhile, platinum prices slipped slightly after touching their highest level since September 2014. In the local market, the price of gold fell Rs460 per tola, settling at Rs358,595, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Similarly, the price of 10 grams of gold decreased Rs394 to Rs307,437. Internationally, gold prices were little changed as heightened geopolitical tensions offset pressure from the Fed's hawkish stance. Spot gold was down 0.1% at $3,365.79 an ounce at 1340 GMT. US gold futures fell 0.7% to $3,382.80. Interactive Commodities Director Adnan Agar noted that gold prices were in a holding pattern as markets awaited clarity on the Israel-Iran conflict. "Gold is on pause because the geopolitical situation, especially regarding Israel and Iran, remains unresolved. By the weekend, we'll know whether the US will intervene or not," he said. Agar added that platinum had recently gained attention, hitting a 10-year high after lagging behind other precious metals for an extended period. "For a long time, platinum and silver were undervalued compared to gold, which recently reached record highs. Now, as gold pauses, investors are turning to platinum and silver, driving their prices up. Both metals reached multi-year highs just a few days ago," he elaborated.
