Gold price in Pakistan rises by Rs1,700 per tola

The price of 10 grams of 24-karat gold also witnessed an increase, climbing by Rs1,457 to reach Rs367,314 in local markets.

Gold prices moved higher across Pakistan on Monday, tracking an upward trend in the international bullion market, according to the latest rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The price of 24-karat gold per tola increased by Rs1,700, taking the new rate to Rs428,436. The recovery comes after a sharp decline recorded in the previous trading session, when the precious metal had fallen by Rs3,700 per tola to settle at Rs426,736 on Saturday.

The price of 10 grams of 24-karat gold also witnessed an increase, climbing by Rs1,457 to reach Rs367,314 in local markets.

Market analysts said the rise in domestic gold prices reflects the positive movement in global bullion markets, where investor demand strengthened amid ongoing uncertainty surrounding the global economic outlook and expectations regarding interest rate policies.

In the international market, the price of gold gained $17 per ounce, pushing the bullion rate to $4,060 per ounce, including a premium of $20. The increase in global prices was mirrored in Pakistan’s local market, where gold rates are largely influenced by international trends and fluctuations in the value of the Pakistani rupee against the US dollar.

Meanwhile, silver prices also registered a notable increase. The price of silver per tola rose by Rs54, reaching Rs6,291 in the domestic market.