Gold Prices in Pakistan Reach Record High
Gold prices in Pakistan maintained their upward trajectory on Monday, mirroring the increase in international rates. In the local market, the price of gold per tola rose by Rs500, reaching Rs282,300, marking the latest record high in Pakistan.
Local Market Update
In addition, 10-gram gold was sold for Rs242,027 after an increase of Rs429, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This follows a significant rise on Saturday, when the gold price increased by Rs900 to settle at a then-record high of Rs281,800.
International Gold Rates
Meanwhile, the international gold rate also saw an uptick on Monday. As reported by APGJSA, the rate was $2,726 per ounce (with a premium of $20), reflecting a $5 increase during the day.
Silver Prices Steady
Silver prices remained unchanged at Rs3,150 per tola, providing some stability amidst the fluctuating gold market.
Global Context
Globally, gold continued its impressive rally on Monday, reaching fresh highs amid uncertainties surrounding the US election, ongoing tensions in the Middle East, and potential rate cuts by major central banks. Notably, silver also surged, reaching a near 12-year peak, indicating a robust performance in precious metals.
