Gold prices in Pakistan climbed further on Monday, pushing the price of 24-karat gold above Rs487,000 per tola. The latest increase followed another rise in international gold prices. Consequently, local gold rates moved higher during the trading session.
Gold Price Rises by Rs4,200
The price of 24-karat gold increased by Rs4,200 per tola on Monday. Accordingly, the price reached Rs487,136 per tola, according to rates issued by the All Pakistan Gems and Jewellers Sarafa Association.
The price of 10-gram gold also recorded a notable increase. It rose by Rs3,601 to reach Rs417,640. The latest move comes after gold already posted a strong gain on Saturday. At that time, the price increased by Rs5,700 per tola.
Following that increase, gold reached Rs482,936 per tola.
International Gold Prices Also Move Higher
Gold also gained ground in international markets on Monday. The international price increased by $42 to $4,646 per ounce, including a $20 premium. Therefore, the rise in global prices contributed to the latest increase in Pakistan’s domestic gold rates.
The continued movement has kept gold prices under close watch among buyers and investors. However, local prices remain closely linked to changes in international rates.
Silver Prices Remain Unchanged
Meanwhile, silver prices remained unchanged on Monday. The price of silver stood at Rs7,379 per tola, maintaining the level recorded last week.
While gold prices continued their upward movement, silver therefore showed no change during the latest session.
The latest figures highlight another strong day for gold in Pakistan. With the 24-karat rate now above Rs487,000 per tola, buyers are facing another increase in the precious metal’s price.
