ISLAMABAD: Gold prices in Pakistan saw a positive start to the week, rising by over Rs2,000 per tola, driven by an increase in international rates and depreciation in the value of the local currency.
Data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) on Monday revealed that the price of gold (24 carats) increased by Rs2,800 per tola, reaching Rs225,300, and by Rs2,143 per 10 grams, reaching Rs193,198.
In the international market, the price of gold also rose by $3, settling at $1,965.
The gold rate in Pakistan has been experiencing fluctuations recently, influenced by ongoing political and economic uncertainty, as well as high inflation. During such times, people often turn to gold as a safe investment and a hedge against instability.
In contrast, the price of silver remained unchanged at Rs2,750 per tola and Rs2,357.68 per 10 grams, as per the data shared by the association.
Additionally, the local currency also witnessed a decline of 0.39% against the US dollar in the interbank market on the same day, according to data from the State Bank of Pakistan (SBP).
