Tag: Gold Prices

Gold prices held near a seven-week high on Friday, buoyed by expectations of additional US Federal Reserve rate cuts next year, while silver traded just below its recent record peak. Spot gold dipped slightly to $4,275.44 per ounce but eyed a 1.8% weekly gain, with silver up 0.4% at $63.84 after hitting $64.31 the prior day.The Fed's third 25-basis-point cut of the year, delivered in a split decision, appeared less hawkish, signaling future easing depends on cooling inflation and labor data. A weakening dollar and rising US jobless claims further supported non-yielding metals, with silver's rally fueled by industrial demand and tight supplies.Platinum rose 0.2% to $1,698.45 per ounce, and palladium gained 1.9% to $1,512, both on track for weekly advances. Analysts see silver potentially targeting $75 on technical breakouts

On Tuesday, gold prices in Pakistan held steady at a record Rs. 370,700 per tola following Monday’s unprecedented Rs. 3,300 jump. The 10-gram rate remained unchanged at Rs. 317,815, mirroring the international price of $3,480 per ounce (plus a $20 premium), while silver also stayed firm at Rs. 4,303 per tola.

Pakistani gold prices have sharply declined by PKR 8,500 per tola in just three days. On Saturday, 24 karat gold traded at PKR 356,400 per tola, following a PKR 300 drop from Friday. This significant downturn, mirrored in both local silver prices and international precious metal markets, marks a notable shift for investors and consumers.

KARACHI – Gold prices in Pakistan saw a sharp rise on Wednesday, following an upward trend in the international market. According to the All-Pakistan Gems […]