Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: A declining gold demand in Pakistan
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Gold price in Pakistan
PhotoNews Pakistan > Business > A declining gold demand in Pakistan
Business

A declining gold demand in Pakistan

Web Desk
By Web Desk Published August 17, 2015 4 Min Read
Share
SHARE
Karachi: Gold’s consumer demand in Pakistan remained 9.5 tonnes during the second quarter of 2015, which is down 22.7% from a year ago.

According to statistics on global gold demand released by the World Gold Council (WGC) on Thursday, gold’s consumer demand in Pakistan clocked up at 17.8 tonnes in the first half of 2015, showing a decline of 8.7% on a year-on-year basis.

On a sequential basis, however, quarterly consumer demand of precious metal in the country increased 14.4%, WGC data shows.

The year-on-year decrease in the overall demand of gold was caused by a notable drop in the demand for jewellery in the April-June quarter. Jewellery demand in Pakistan equalled six tonnes in April-June, down 17.8% from a year ago. Jewellery demand in the country for the first six months of 2015 remained 11.1 tonnes, down 3.4% from last year.

The rest of the overall consumer demand in Pakistan came from gold bars and coins. Clocking up at 3.5 tonnes in April-June, the demand for gold bars and coins showed a year-on-year decline of 30%.

Pakistan’s share in the global consumer demand of gold is miniscule. With world consumer demand at 714.9 tonnes, Pakistan’s share was only 1.3% in the second quarter of 2015.

The decrease in Pakistan’s gold consumer demand in April-June was in line with the global trend. Overall consumer demand of gold in the second quarter decreased 14.1% internationally because of China and India, the two dominant players in the global gold market.

WGC noted that extreme weather patterns in India overshadowed the second-quarter demand and had a direct impact on incomes in the rural population, which accounts for more than half of the Indian gold demand.

As for China, WGC said the drop of about 5% in demand during the second quarter was because of the domestic economic conditions and stock market volatility.

Speaking to The Express Tribune, All Sindh Saraf and Jewellers Association President Haroon Rasheed Chand said the spell of slow demand in the gold jewellery market seems to be finally over now. “People have started buying jewellery again. I foresee a bullish trend in the saraf market in coming months,” he said.

Gold traded at Rs45,200 per tola (11.6 grams) on Saturday, according to ASSJA. The local gold market was in the grip of a long bearish trend, as its price declined more than 25% in last four years, data compiled by ASSJA shows.

Each of the two gold-based mutual funds being managed by Pakistani asset management companies has posted a negative return in the last 365 days. Atlas Gold Fund and UBL Gold Fund have posted absolute returns of -6.7% and -7.8%, respectively, over the one-year period, according to the Mutual Funds Association of Pakistan.

The downturn in local gold prices was largely in line with the trend in the international market where gold prices are now hovering around $1,120 per ounce after reaching the peak of $1,895 per ounce in September 2011.

Reuters reported on Thursday the international gold price has touched a three-week high, as a weaker Chinese yuan kept equities under pressure, thus encouraging investors to seek safe-haven assets like gold.

TAGGED:Pak­istan
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Tyrese Haliburton Injury

Tyrese Haliburton Sidelined for Entire 2025-26 NBA Season

Haibatullah Akhundzada Arrest Warrants 2025

ICC Issues Arrest Warrants for Taliban Leaders Haibatullah Akhundzada, Abdul Hakim Haqqani

Enrique Iglesias Kiss Emilia Mernes

Enrique Iglesias Faces Backlash for Emilia Mernes Non-Consensual Kiss

Post Archives

More Popular from Photonews

Sheikh Naim Qassem Hezbollah's Ashura Speech
Top NewsWorld

Hezbollah’s Naim Qassem Defies Israeli Threats in Ashura Speech

3 Min Read
Cierra Ortega Love Island exit
Entertainment

Cierra Ortega Exits Love Island USA Amid Controversy

2 Min Read
Hyundai Creta Theft Delhi in 60 seconds
Offbeat

Thieves Hack Hyundai Creta’s Security System in 60 Seconds

2 Min Read
Tech

iOS 26 Beta 3 Update for iPhone: What’s New and Improved

Apple has released iOS 16 Beta 3 for iPhone, introducing new stock wallpapers and a refined…

July 8, 2025
Sindh

Karachi Building Collapse Kills Two, Injures Six in Lyari

On July 4, 2025, a five-storey building in Karachi’s Lyari collapsed, killing at least two people…

July 4, 2025
Entertainment

Salman Khan Unveils Intense Battle of Galwan First Look

On July 4, 2025, Bollywood superstar Salman Khan unveiled the first look of his upcoming film,…

July 4, 2025
Pakistan

Bonanza Satrangi Issues Official Statement on Centaurus Mall Staff Assault Incident

On July 3, 2025, a disturbing video emerged on social media showing a woman physically assaulting…

July 4, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?