Gold rates in Pakistan showed a modest recovery on Monday, following significant losses during the previous week. According to data from the All Pakistan Gems and Jewellers Association, the price of gold per tola increased by Rs1,500, settling at Rs357,700.
Similarly, the price of 10 grams of gold rose by Rs1,286, reaching Rs306,670. The local recovery reflected trends in the international bullion market, where gold prices also moved upward. The per ounce rate climbed by $15 to reach $3,350.
Market experts attribute the rise in gold rates globally to falling US Treasury yields. Investors are also closely watching a key meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskiy, and European leaders. This meeting has sparked hopes for progress toward ending the Russia-Ukraine conflict.
Earlier in the week, gold rates had fallen sharply. On Saturday, the price per tola dropped by Rs900, closing at Rs356,200, while 10 grams of gold fell by Rs771 to Rs305,384. This decline mirrored global market movements, with gold losing $9 per ounce to reach $3,335.
Apart from gold, commodity markets in Pakistan also experienced changes in petroleum prices. The Ministry of Finance announced revised rates for fuel products on Friday, effective from August 16.
Petrol prices remained unchanged at Rs264.61 per litre. However, diesel rates were reduced by Rs12.84 per litre, falling from Rs285.83 to Rs272.99, while superior kerosene oil dropped from Rs185.46 to Rs178.27 per litre.
The fluctuations in gold rates highlight the close link between local and international markets. Investors in Pakistan continue to monitor both global economic indicators and domestic commodity policies to make informed decisions.
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