KARACHI – Gold prices increased in Pakistan at the start of the new business week. The rise followed an upward trend in international bullion markets.
According to data from the All Pakistan Gems and Jewellers Association, gold prices moved higher on Monday. The price of gold per tola increased by Rs3,000 in the local market.
After the increase, the new rate reached Rs536,562 per tola. This rise continued the recent upward trend in gold prices across the country.
Similarly, the price of 10 grams of gold also recorded a noticeable increase. The rate went up by Rs2,572 and reached Rs460,015 in local markets.
Traders said the change in gold prices was linked to movements in the global bullion market. International prices also showed a strong upward trend.
In the global market, the price of gold per ounce increased by $30. The international rate reached $5,138 per ounce during the latest trading session.
Market analysts said global economic uncertainty often affects gold prices. Investors sometimes turn to gold as a safer asset during uncertain periods.
The rise in international bullion prices usually impacts local markets. This connection often causes gold prices in Pakistan to follow global trends.
Silver prices also moved higher in the local market. The price of silver increased by Rs146 per tola.
After the increase, silver reached Rs9,094 per tola in Pakistan. Traders said precious metals showed strong demand during the session.
Meanwhile, the Pakistan Stock Exchange experienced a sharp decline on Monday. The benchmark KSE-100 Index closed significantly lower.
The index dropped by 5,478.63 points during the trading session. It ended the day at 167,691.08 points.
This marked a decline of about 3.16 percent compared to the previous closing level. Earlier, the market had closed at 173,169.71 points.
During the session, the KSE-100 Index reached a high of 174,336.85 points. Later, it dropped to a low of 166,886.63 points.
Trading activity remained active despite the decline. Total trading volume reached 204,726,272 shares.
Financial analysts said market movements often influence investor behavior. Rising gold prices sometimes attract investors looking for stable assets.
In other news read more about Silver Rate Jumps in Pakistan as Global Trends Support Gains
Experts believe global economic developments will continue to affect gold prices in the coming weeks. Investors and traders are closely monitoring both local and international market trends.
