Gold prices in Pakistan experienced a notable increase on Monday, reflecting strong gains in the international market. In trading over the last 12 hours, the price of gold per tola in the local market rose by Rs. 2,190 to reach Rs. 450,010, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price for 10 grams of gold climbed, with the market showing a steady upward trend throughout the morning.
At the start of the trading day, gold was priced at Rs. 447,820 per tola. The increase is attributed to a combination of local demand and international market dynamics. The international gold price also showed a significant rise, with gold trading at $4,254.75 per ounce by midday, an increase of $30.81 from the day start. This upward momentum in the global gold market has contributed to the local market’s performance.
Silver prices in Pakistan followed a similar trend, with the price per tola rising to Rs. 57.45, compared to Rs. 57.04 at the start of the day. The consistent performance in the silver market indicates a broader trend of strengthening precious metals.
Globally, the gold market has been influenced by various economic factors, including fluctuations in the US dollar and investor sentiment towards safe-haven assets. The premium on international gold, as reported by APGJSA, also played a role in the local price adjustments.
Overall, the Pakistani gold market is experiencing a positive trend as it aligns with global movements. Investors and traders are closely monitoring these changes as the market reacts to international cues. With the ongoing economic developments, the gold market is expected to remain dynamic, providing opportunities for stakeholders in the industry.
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