Gold prices in Pakistan rose sharply on Monday, following a similar increase in the international market. The price of gold per tola climbed by Rs800, reaching Rs350,200, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This marked a positive turnaround after recent losses.
The price of 10-gram gold also increased by Rs686 and was sold at Rs300,240. This rise comes after a drop on Saturday, when gold prices fell by Rs1,600 per tola to Rs349,400. The upward trend reflects growing demand and favorable market conditions globally.
Internationally, gold prices gained $8 per ounce, reaching $3,282 with a $20 premium, according to APGJSA. This rise in global prices has directly impacted the local gold rates in Pakistan, causing the recent surge.
In contrast, the price of silver per tola remained steady at Rs3,782, showing no significant change despite the fluctuations in gold prices. Market watchers are closely monitoring both metals for further movements.
Overall, the rise in gold prices is expected to influence the jewelry market and investment trends in Pakistan, as buyers respond to the latest market shifts.