Gold prices in Pakistan have seen an upward trend on Monday, mirroring a rise in the global market. In trading over the last 15 hours, the price of gold per tola increased by Rs. 400, reaching Rs. 448,220, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This rise comes as the international gold rate saw a $16.59 increase, moving from $4,223.94 to $4,240.53 per ounce.
The local market’s positive movement in gold prices reflects the international market’s strong performance. The high for the day was reported at $4,264.56 per ounce, while the lowest was $4,204.77, showcasing a volatile trading session. This fluctuation emphasizes the impact of global economic conditions on local gold trading.
Silver prices in the local market also followed the upward trend. The price per tola of silver increased to Rs. 57.66, marking a slight rise from the day’s start at Rs. 57.04. The APGJSA has noted similar patterns in international markets, indicating a general positive sentiment in precious metals.
Internationally, the gold market has been buoyed by factors such as currency fluctuations and investor sentiment, with prices trending upwards. The global context for these movements includes ongoing economic uncertainties and currency valuations that often drive investors towards safe-haven assets like gold and silver.
In summary, the local gold market in Pakistan has recorded significant gains, aligning with global trends. The price increase of Rs. 400 per tola in the local market reflects the broader international rally. As the day progresses, traders and investors will be closely watching both local and international developments to gauge further movements in the precious metals market.
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