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Gold prices touch record high of Rs94,000 per tola

LAHORE: Gold prices hit record high on Wednesday as the precious metal touched over Rs94,000 per tola in the local markets. Gold price increased by Rs1,950 per tola to reach new heights of Rs94,100. Whereas, the price of 10 grams of gold increased by Rs1,671, and is being traded at eighty thousand six hundred and seventy-five rupees. The development comes ... Read More »

Bullion prices: 24k gold sold for 39600/10 gram on Thursday

KARACHI: Following were the bullion prices in Karachi and Hyderabad on Thursday. KARACHI: (per 10 gram) Gold Tezabi 24 CT Rs. 39857 Silver Tezabi Rs. 548.57 HYDERABAD: (per 10 gram) Gold 24k Rs. 39600.00 Gold 22k Rs. 36300.00 Silver Rs. 548.00 Read More »

Spot gold touches $1,240.40 an ounce, registers 1-month high

SINGAPORE: Gold registered a one-month high on Monday, recuperating from earlier losses due to slowdown in the global economy. Spot gold increased 0.2 percent to $1,240.40 an ounce by 0701 GMT after earlier decline of 0.3 percent. The metal has gained nearly 4 percent in the past two weeks and hit a one-month high of $1,249.30 on Wednesday. “We are ... Read More »

Gold price up Rs 300 per tola as marriage season kicks off

KARACHI: The gold price gained strength by rising Rs 257 to trade of Rs 41,657 per 10 grams in the Karachi gold market today amid festive/marriage season demand from jewellers and retailers. Moreover, gold price rose Rs 300 per tola in market to reach a level of Rs 48,600, as price of precious metal increased globally and traded at $1,233 ... Read More »

Spot gold slips 0.4pc to $1,227 per ounce

SINGAPORE: Spot gold slipped 0.4 per cent to $1,227 an ounce on Wednesday. The precious metal touched a 4-week peak of $1,237.90 on Tuesday, before trimming gains to close the day 0.4-per cent lower. Meanwhile, gold was also getting some support from India and China markets. India’s September gold imports nearly doubled to $3.75 billion from the month before, ahead ... Read More »

Gold touches highest mark in 4 weeks

LONDON: Gold prices reached to the highest level in almost four weeks since concern that the U.S. Federal Reserve may lower the dollar. Gold increased 1.2 percent in London Market, extending last week’s 2.7 percent gain. The Bloomberg Dollar Spot Index retreated 0.4 percent to extend its first weekly decline in eight weeks.  Federal Reserve Vice Chairman Stanley Fischer statement ... Read More »

Price of spot gold to climb to $1,245 per ounce

SINGAPORE: The price of spot gold is likely to increase to $1,245 per ounce from $1,222 as the global economic outlook continued to worry investors. The upcoming resistance will be at $1,245, the 38.2 percent retracement, a break above which will open the way towards $1,264, the 50 per cent retracement. Based on the bullish momentum that drives the current ... Read More »

Gold price increases Rs850 to reach Rs48,000

KARACHI: Gold price in Pakistan has raised Rs850 per tola (11.66 grams), touching the highest rate in four weeks of Rs48,000 and showing increase of 1.80 per cent. All Sindh Saraf and Jewellers Association President Haroon Rasheed Chand said that the gold price in New York market also surged by $40 an ounce to $1,231 an ounce during Eid holidays ... Read More »

Gold price up in int’l market on strikes against ISIS

SINGAPORE: “Gold added to overnight gains on Wednesday as Asian shares retreated, but investors remained cautious,” agencies reported. As per details, the US-led strikes against militants in Syria failed to sustain the gold prices in international market, even the precious metal is traditionally seen as a safer bet during times of political uncertainty. Moreover, the tensions in Syria, however, curbed appetite ... Read More »

China launches gold market to woo foreign investors  

SHANGHAI: In a bid to woo foreign investors , Chinese official media on Thursday said that Beijing has launched a new market for trading gold. According to Xinhua news agency, Beijing wants to attract foreign investors to a year-old free trade zone (FTZ) and for that very reason, the Shanghai Gold Exchange has launched an international board. China hopes that ... Read More »

Gold prices remain steady despite floods, political uncertainty

  LAHORE – Gold prices remained steady on Monday in the local market despite current political unrest and flash floods in the country. Like the last week, gold price for 24 karat closed at Rs 47,900 per tola and 22 karat gold metal price at Rs 43,900 per tola in city gold markets. Silver also remained stable in the market ... Read More »

Gold sheds Rs 90 per tola as dollar gains strength in world market

LAHORE: Gold prices closed lower on Friday in the local markets as the precious metal suffered losses in the global trading at the hands of a rising dollar. After witnessing a decrease of Rs 90 per tola (11.644 grams), gold prices for 24 karat closed at Rs 49,090 as compared to Thursday rates of Rs 4,9100 in city gold markets. ... Read More »

Imran, Qadri sit-ins: Gold prices slip down by Rs 50 per tola

LAHORE: Gold prices once again went down in the local market as one tola or 11.644 gram of 24-karat sold at Rs 49,100 after decrease of Rs 50 per tola. Similarly, the price for 22 karat gold per tola also decreased Rs 70 per tola and sold at Rs 48,900 per tola. The silver prices closed at Rs 750 per ... Read More »

Gold drops Rs252 per tola

KARACHI: Gold price went down on Tuesday by Rs 251 per tola to reach Rs48,340 per tola while the yellow metal dropped Rs 216 per ten grams to close at Rs 41,488 per ten grams. The gold price remained in correction phase, as leading traders in international and domestic markets were cautious on future output. The general buyers remained on ... Read More »

Gold price goes down by Rs285 per tola

KARACHI: The Gold price in global market decreased followed by lack of interest by international and domestic buyers. The price of goldwent $35 an ounce down as compared to previous business session and stayed at $1,304 an ounce while domestic gold price observed descending trend. As per details, Gold in tola term went down by Rs 285 per tola and ... Read More »

Gold, jewellery clearance: Customs, TDAP to be linked through WeBOC

KARACHI: Directorate of Reforms and Automation has started its work on formation of Requirement Specification Documents (RSD) in connection with import/export of gold, jewellery and gemstones relates to SRO 760/2013. FBR sources informed Customs Today that the Economic Co-ordination Committee has decided to establish interface between Pakistan Customs and Trade Development Authority of Pakistan in order to automate Customs clearance ... Read More »

Customs wins legal battle over 10kg gold seizure from Iranian

ISLAMABAD: After struggle of twenty five years, Pakistan Customs has won the legal battle over confiscation of ten kilograms of smuggled gold worth tens of millions of rupees. Supreme Court of Pakistan has given its verdict over the confiscation of the gold from Iranian citizen Ghulam Hussain Ramzan Ali in favour of Pakistan Customs while rejecting his appeal. The Iranian ... Read More »

Ban on gold import to be lifted in two weeks

LAHORE: Federal Commerce Minister Khurram Dastgir has said that ban on import of gold would be lifted in two weeks with an ultimate goal to facilitate the value added exports of the commodity. “The government has devised a comprehensive plan to allow import of gold and the ban will be lifted in two weeks,” the minister said while addressing a ... Read More »

ECC lifts ban on gem export, ban on gold import extended

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved to lift restrictions on the export of Gem Stones. However the body extended the ban on the import of gold under SRO 760 up to 31st March. The meeting of the Economic Coordination Committee (ECC) of the Cabinet took place under the chairmanship of the Federal Minister for Finance ... Read More »

1st Half: Jewellery exports down to quarter, gold imports almost double

KARACHI: Jewellery exports have declined by 75 per cent during the first half of the current fiscal year to $219 million from $ 970 million in the period from July to December in FY 2012-13 according to data provided by Pakistan Bureau of Statistics (PBS). On the contrary, imports of gold have risen almost twice in quantity (92%) to around 4,000 ... Read More »