Pakistan witnessed a sharp rise in domestic gold prices on Monday as international markets continued their upward momentum. The latest surge comes just a day after a major increase, reflecting growing investor interest in safe-haven assets amid global economic uncertainty.
Gold Rates Jump in Local Market
Gold prices climbed significantly across Pakistan. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold rose by Rs2,700 per tola, bringing the new rate to Rs446,862.
The price of 10 grams of 24-karat gold also increased by Rs2,315, reaching Rs383,112. Meanwhile, 10 grams of 22-karat gold saw a jump of Rs2,122, rising to Rs351,198.
Local traders say the upward movement is directly tied to international trends, coupled with strong domestic buying as the wedding season continues. Jewelers report increased footfall, with many consumers rushing to purchase gold before prices climb further.
Global Gold Prices Reach New Highs
The international market also recorded a major upswing. Global gold rates increased by $27 per ounce, settling at $4,245. Analysts attribute the surge to persistent economic volatility, weakening currency trends, and renewed demand from major financial institutions.
Silver prices moved upward as well. The price of 24-karat silver per tola increased by Rs54, reaching Rs5,963. Similarly, 10 grams of 24-karat silver rose by Rs46, now priced at Rs5,112.
Experts predict that gold may continue its upward trajectory if global markets remain unstable. Investors in Pakistan are expected to stay cautious but active as precious metals continue to offer a sense of financial security.
