Gold prices climbed once again on Monday in both the international and local markets, showing renewed strength after recent declines.
According to the All Pakistan Gems and Jewellers Association, the price of gold in the local market rose by Rs1,300 per tola, reaching Rs423,862 per tola. Similarly, the rate for 10 grams of gold increased by Rs1,115, settling at Rs363,393.
Just two days earlier, the precious metal had seen a drop of Rs1,600 per tola, bringing prices down to Rs422,562. The latest increase reflects growing investor interest as markets respond to shifting global economic factors.
International Market Trends
In the international market, gold prices remained steady as the US dollar strengthened and trade tensions between Washington and Beijing appeared to ease. These developments have kept investors cautious, reducing demand for the metal as a traditional safe haven.
Spot gold slipped slightly by 0.1 percent to $3,997.94 per ounce at 0250 GMT. However, US gold futures for December delivery rose by 0.3 percent to $4,008.60 per ounce.
Despite the modest rebound, the yellow metal has dropped nearly 10 percent since reaching an all-time high of $4,381.21 per ounce on October 20. Analysts attribute this decline to the dollar’s recovery to a near three-month high, which typically pressures precious metal prices.
Outlook
Market experts believe that gold may continue to face short-term volatility as investors monitor global currency trends and geopolitical developments. However, the long-term outlook remains positive due to inflation concerns and potential shifts in US monetary policy.
For now, jewellers and traders in Pakistan expect domestic prices to stay aligned with global movements, with further adjustments depending on dollar rates and international market trends.
In other news read more about: Gold Prices Rise in Pakistan Amid International Market Gains
