BMK

All that glitters

Posted on: October 19, 2009

Wednesday, February 01, 2006

Gold price at record high in Pakistan

Staff Report

KARACHI: Gold price touched an all-time high in Pakistan on Tuesday as it soared to Rs 11,011 per 10 grams after a jump of Rs 97 due to the rising price of the precious commodity in the international market.

The price was Rs 10,902 per 10 grams on Monday.
http://www.dailytimes.com.pk/default.asp?page=200621 tory_1-2-2006_pg5_4

October 07, 2009

Pakistan gold prices hit record high

ISLAMABAD (Commodity Online ) : Gold prices hit record peaks in Pakistan as the yellow metal leaped to another historic high of Pak Rs 31,900 per tola on Tuesday.

One Pakistan Tola, the local benchmark for gold, is equal to 11.6 grams.
http://www.commodityonline.com/news/Pakistan-gold-prices-hit-record-high-21746-3-1.html

Oct. 17, 2009 rates are Rs. 33116 per Tola or Rs. 28392 per 10 grams.

I would like you to guess the Oct. 2010 rates. Here is the last year’s pattern.
/10 g.
Rs 21,342 sept 22, 08
Rs 21642.00 25 sep, 08
Rs 22242.00 oct 7 08
Rs 22,628 oct 13. 08
Rs 22,670 0ct 17, 08
Rs 19800 Nov. 12, 08
Rs 19800 Nov 11 2008
Rs 23,374 April 10, 09
Rs 23314.00 april 29, 09
Rs 23,491.00 May 12, 09
Rs 24,942.00 June 06, 09
Rs 24,471 july 04, 09
Rs 28,371 Oct. 16 09

In Pakistan, 85% gold is used for jewelery. More than 70% consumers are khavateen. Life will become so easy if they abandon the use.

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7 Responses to "All that glitters"

That is astonishing!!

I remember selling my gold jewwellery because of two reasons,

a. I was very young and was going to live alone and wouldnt be able to take care of it.

b. i hd to pay zakaat on it and it was an immense amount, thatw as excluding the amount we’d have to pay on my husbands saving alone…

And besides I HATE jewellery. Even though it makes me a person to be mocked 😀 Im happy, no rings, no stuff in ears and hands n necks…:S

We’re already loaded mentally, physically load ourselves too?

No way…

P.S visiting your blog makes me feel very light when Im feeling down..

JazakAllah.

I aint following news since long but what I read here is just astonishing :O. You mean to say from Oct 7 to Oct 17, in only days, the gold prices rose from 11 thousand to 28 thousand. There must be some mistake. I guess the 07th Oct price for 10 grams gold isnt correct…

Haris, 11 thousand is the rate that of February 01, 2006. I am sorry for not presenting or composing the post as it should have been. I was just astonished as well after watching a report on GEO regarding the gold prices that morning. In fact, I have been thinking to convert certain savings for rainy day into Gold. That way only, it would be able to retain it’s value otherwise PKR jo tarraqi kar raha hay na …

Alhamdulillah, reason no. 1 is not so valid to sell the jewelery. You could have sought parents or close-ones help for the mean time.

The 2nd one is understandable & perhaps that’s one of the objectives of Zakat as well; things should be in circulation. Yet, I would have acted differently to find the solution.

& am glad to know that you like being here. we also very much like your presence around. May Allah Almighty grant us dilli sakuun & barkat in our lives. Had there been enough ladies like you around, tau male folks ki zindagi bahut asaan hoti. I am reffereing particularly to no liking for Gold. 🙂

All that glitters is a hurdles in making our dreams come true 😛

With the continuously rising crime rate in pakistan, I am pretty sure the use of real gold will decrease. Robbers take everything. Why bother.

great sir….no atleast we will get releif from GOLD jewellery.Fhewww…..warna to aunties nahi jwellery box challey a rahy hoty hain…………:D

Its strange to, why do people love to have gold and then mapping their sweat when they have to pay zakat…finding out other ways………a tiny hole to escape…. 😀

I don’t like gold jewelery as such. A pair of earrings, maybe a ring and a chain suffice. But overall for ages gold is said to be a good form of investment. But I often think… if you keep it at home, robbers will take it away; if you keep it in bank, sarkari robbers will take it away 😛

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