Gold prices in Pakistan witnessed a sharp rise on Monday, reflecting strong gains in the international bullion market. Local traders reported heavy buying interest as global gold prices climbed significantly, providing fresh momentum to domestic rates. The upward movement came after a volatile trading session over the weekend, when gold prices had recorded a notable decline.
In the local bullion market, the price of gold increased by a massive Rs7,500 per tola. With this jump, gold settled at Rs489,362 per tola, marking one of the strongest single-day gains in recent weeks. Market participants attributed the surge to renewed investor confidence and higher international prices.
According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold also moved higher. It rose by Rs428 to reach Rs419,549. Jewellers said demand improved after clarity emerged in the global market, encouraging buyers to re-enter.
The sharp rebound followed a volatile weekend session. On Saturday, gold per tola had dropped by Rs6,431. It closed at Rs481,862, causing uncertainty among investors and traders. However, the decline proved short-lived as global cues turned positive at the start of the new week.
International Gold Prices Drive Local Rally
International gold prices played a key role in lifting domestic rates. In the global market, gold surged by $75 per ounce. It reached $4,670 per ounce, including a premium of $20. Analysts said the rally was driven by safe-haven demand and strong speculative interest.
Uncertainty in global financial markets has increased investor appetite for precious metals. Gold continues to benefit from its status as a hedge against inflation and economic instability. The strong international performance directly influenced prices in Pakistan’s bullion market.
Local traders noted that fluctuations in the rupee-dollar exchange rate also contributed to price movements. Any weakness in the local currency tends to push gold prices higher. Combined with rising global rates, this created strong upward pressure.
Silver Hits Record High in Pakistan
Silver prices also continued their upward trend, mirroring gains in the international market. In the local market, silver rose by Rs300 per tola. With this increase, silver reached Rs9,782 per tola, setting a new all-time high in Pakistan.
Traders said silver demand has strengthened due to its dual role as an industrial and investment metal. Rising global prices and supply concerns have supported the rally. Investors looking for relatively affordable precious metals are increasingly turning to silver.
Market experts believe volatility may continue in the coming days. Prices are expected to remain sensitive to global economic data, interest rate expectations, and currency movements. For now, strong international cues are keeping bullion prices firmly elevated in Pakistan.
