Gold prices in Pakistan have seen a notable increase on Monday, reflecting the positive momentum in global markets. In the local market, the price of gold per tola rose to Rs. 448,300, marking an increase of Rs. 480 from the day’s start. Similarly, the price for 10 grams of gold also witnessed an uptick, in line with the broader upward trend. These numbers were shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), highlighting a consistent rise throughout the morning trading session.
In trading over the last 9 hours, the international market also showed a similar positive movement. The price of gold reached $4,243.31 per ounce, compared to the earlier rate of $4,223.94, indicating a gain of $19.37. This upward trend is largely attributed to stronger investor demand amid global economic uncertainties.
Silver prices followed suit in the local market, inching up by Rs. 0.12 to settle at Rs. 57.16 per tola. This steady rise in silver prices complements the gains seen in the gold market, as investors continue to seek safe-haven assets.
Globally, the increase in gold prices is driven by a mix of factors, including geopolitical tensions and fluctuating currency values, which have prompted investors to turn to gold as a stable investment. The APGJSA’s data reflects a consistent demand across major markets, indicating a bullish sentiment among traders.
As the day progresses, market analysts remain watchful of the global economic indicators that could further influence the precious metals market. The current trajectory suggests that if the international conditions remain supportive, the local market may continue to see upward adjustments in the coming sessions. Investors are advised to stay informed of the ongoing developments to make strategic decisions in this dynamic environment.
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