Posts Tagged ‘gold’

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (May 16, 2009).

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In rupees per 10 gram

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KARACHI

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Gold Tezabi 23742.00

Silver Tezabi 325.71

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MULTAN

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Gold Tezabi-24 CT 23320.00

Gold 22 CT 21320.00

Silver Tezabi 385.00

Silver Thobi 382.00

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NOTE(Bullion rates from Lahore and Hyderabad were not received).

Gold touches new peak at Rs 19,542 per 10 grams

Gold on Saturday surged to new record high of Rs 19542 per 10 grams at market closing, while per tola it reached Rs 22800, said traders. The yellow metal was now being traded at Rs 19542 per 10 grams at the time of market closing which was previously available at Rs 19414 per 10 grams during the last trading session on Friday. Similarly, per tola it also hit the new peak of Rs 22800 surging from Rs 22650. (more…)

Gold prices surged to an all-time high

Influenced by the current wave of soaring prices in the world market, the precious metal was quoted at Rs17,100 per 10 grams (Rs19,950 per tola) at the close of trading.

In the world market, the yellow metal scrambled to $874 per ounce or $26 higher from overnight rate of $858.10 per ounce.

Although there was no worth-mentioning demand in the domestic market for the precious metal, particularly when marriage season before the month of Muharram is also over and because Pakistanis traditionally do not invest in gold, gold prices moved to an all time high at Rs17,100 per 10 gram in the Karachi market. Elsewhere in the country, gold was quoted at Rs17,057 per 10 grams.

Al-Haj Haroon Rashid Chand, president, All-Sindh Sarafa and Jewellers’ Association, told Dawn that presently there was hardly any import of gold from the Middle East, but prices in the domestic market normally move in sympathy with the world gold prices.

Consequently, he said Tuesday’s surge in prices was just an adjustment with world market rates.

“This is the right time the government should allow free trade in gold as it will only help to generate jobs and help people to earn their bread and butter, particularly when there is a dire need for giving jobs to masses.”- Haroon Rashid Chand.

Gold price hit the record

Gold touched Rs16,885 per 10 grams while the rate of one tola gold hit Rs19,700 onThursday. Global gold rate was $865 per ounce after making new record everyday for the last 10-15 days. Domestic gold rate was Rs15,792 and the global gold rate was $785 per ounce on the 1st Dec. 2007. Domestic prices crossed over Rs16,000 per 10 grams from the last week of December 2007.In 2006, global gold prices hit the record level of $759 per ounce while the highest recorded domestic rate per10 grams was Rs14,400.

People having specific budget sacrifice by purchasing lower weight jewellery sets on their daughters’ weddings. Sales of new jewellery sets had fallen by 50 per cent last year due to higher prices and people preferred bringing in their older sets to be mixed for making the newer sets.