Gold prices in Pakistan experienced a notable surge on Monday, breaking a two-day pause in their upward trajectory. This increase was highlighted by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), which reported a substantial rise in the local gold market. The price of 24 karat gold per tola climbed by Rs900, reaching Rs477,162 compared to Rs476,262 recorded on the previous trading day.
In addition to the tola measurement, the price for 10 grams of gold also saw a significant boost, increasing by Rs772 to settle at Rs409,089. This upward movement in gold prices reflects a broader trend influenced by shifts in the international market, where the price of gold per ounce rose by $9, reaching $4,548. Such global fluctuations often have a direct impact on domestic prices, contributing to the recent gains observed in Pakistan.
Meanwhile, silver prices also experienced gains both internationally and within Pakistan. On the global stage, silver prices per ounce increased by 26 cents, reaching $76.15. Correspondingly, in the local market, the price of silver per tola rose by Rs26 to Rs8,099, while the rate for 10 grams of silver increased by Rs22, settling at Rs6,943. These increases in precious metals prices come amid ongoing economic factors affecting commodity markets worldwide.
Overall, the recent surge in gold and silver prices in Pakistan highlights the sensitivity of the local market to international trends and investor sentiment. The developments underscore the importance of monitoring global commodity movements as they continue to influence domestic pricing and investment decisions.
