Gold prices in Pakistan surged on Monday, following a noticeable increase in international gold rates during the latest trading session.
The price of gold per tola increased by Rs2,000, reaching Rs461,936 in the local market. According to the latest rates, 10-gram gold also became more expensive after recording an increase of Rs1,715.
The price of 10-gram gold reached Rs396,035 following the latest increase announced by the All-Pakistan Gems and Jewellers Sarafa Association.
Gold Prices Rise After Previous Decline
The latest increase comes after gold prices recorded a slight decline during the previous trading session.
On Saturday, the price of gold fell by Rs500, bringing the rate down to Rs459,936 per tola.
However, the market reversed direction on Monday as international gold prices also moved higher.
As a result, local gold prices climbed above the Rs460,000 mark, adding further pressure on buyers.
The latest movement also reflects the impact of international precious metal prices on Pakistan’s domestic market.
International Gold Rate Gains $20
International gold prices also recorded an increase during Monday’s trading session, supporting the upward movement in Pakistan.
The international gold rate gained $20 to reach $4,395 per ounce, including a $20 premium.
Consequently, the increase in global prices contributed to the higher gold rates recorded in Pakistan.
Changes in international gold prices often influence domestic rates, particularly when global precious metal markets experience noticeable movements.
Silver Price Also Moves Higher
Silver prices also recorded an increase in Pakistan during the latest trading session, continuing the upward movement across precious metals.
The price of silver increased by Rs80 per tola, reaching Rs7,029 per tola in the local market.
Therefore, both gold and silver recorded gains on Monday, giving buyers higher rates across the precious metals market.
What the Latest Gold Rate Means for Buyers
The latest increase places the price of gold firmly above Rs460,000 per tola in Pakistan.
For jewellery buyers, the increase could raise the overall cost of purchases, particularly for larger quantities of gold.
Similarly, investors tracking precious metals will be watching international prices closely for signs of further movement.
However, gold prices can change with fluctuations in international markets and developments affecting global precious metal demand.
For now, the latest local rate stands at Rs461,936 per tola, while 10-gram gold is priced at Rs396,035.
Silver, meanwhile, is available at Rs7,029 per tola after recording an increase of Rs80.
