The price of Gold continued its upward trend on Monday, with 24-karat gold per tola rising by Rs3,400 to reach Rs393,700. The previous day, it had closed at Rs390,300, according to the All Pakistan Sarafa Gems and Jewellers Association.
Similarly, the price of 10 grams of 24-karat gold increased by Rs2,915, now trading at Rs337,534, up from Rs334,619. The rate of 10 grams of 22-karat gold also climbed by Rs2,672, reaching Rs309,417 compared to Rs306,745 on the previous trading day.
The rise in domestic gold prices mirrors trends in the international bullion market. Globally, gold prices rose by $34 per ounce, settling at $3,719, up from $3,685 recorded the day before. Analysts attributed the increase to stronger demand and market fluctuations in major economies.
Silver prices also saw gains. The rate of 24-karat silver per tola increased by Rs63 to Rs4,595, while 10 grams of silver rose by Rs54, now available at Rs3,939. On the global front, silver prices climbed by $0.63 per ounce to stand at $43.68, up from $43.05.
Experts say that the surge in gold and silver prices is influenced by global inflation trends, currency fluctuations, and investor demand for safe-haven assets. Pakistan’s jewelry market also anticipates higher demand as prices rise, particularly in the lead-up to festive seasons.
Investors and traders are closely monitoring these changes, as gold remains a preferred investment amid economic uncertainty. Analysts recommend staying updated with both local and international market movements to make informed investment decisions.
The consistent rise in gold prices reflects broader global trends, signaling strong market sentiment for precious metals in both domestic and international markets.
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