Gold prices in Pakistan surged on Monday, reflecting a strong rally in the international market. The price per tola increased to Rs. 429,862, rising Rs. 7,400 in a single day. Meanwhile, the rate for 10 grams of gold climbed to Rs. 368,530, up Rs. 6,337, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Saturday, gold prices had closed at Rs. 422,462 per tola after a slight drop of Rs. 600. The recent surge marks a continuation of upward momentum influenced by global trends.
Internationally, gold prices also recorded significant gains. APGJSA reported that the global rate reached $4,075 per ounce, including a $20 premium, representing a $74 increase during the day. Analysts say rising global gold prices are driven by expectations of a possible Federal Reserve interest rate cut in December and weak economic indicators that fuel concerns about a global slowdown.
Silver prices in Pakistan also moved higher. The price per tola increased by Rs. 115, reaching Rs. 5,209. The simultaneous rise in silver and gold prices highlights growing investor interest in precious metals as a safe-haven investment.
Spot gold in international markets rose 1.4 percent to $4,053.40 per ounce by early Monday GMT. US gold futures for December delivery increased 1.3 percent, reaching $4,062.40 per ounce. Analysts note that these trends suggest continued strength in gold prices globally, which often influences the local market in Pakistan.
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Rising gold prices in Pakistan reflect both international market conditions and domestic demand. Investors are turning to gold as a secure asset amid economic uncertainty. Experts recommend monitoring both global indicators and local market trends to understand the future direction of gold prices in Pakistan.
