The domestic gold market witnessed a significant jump on Monday, with prices for 24-karat gold increasing by Rs6,200 per tola.
According to the latest data released by the All Pakistan Sarafa Gems and Jewellers Association, the new price for one tola of 24Kt gold has reached Rs462,362.
The sharp upward trend was seen across all categories of gold and silver, driven largely by a rise in the international market.
Gold Rates:
Gold 24Kt (per Tola): Rs 462,362 (up by Rs 6,200)
Gold 24Kt (10 grams): Rs 396,400 (up by Rs 5,315)
Gold 22Kt (10 grams): Rs 363,379 (up by Rs 4,872)
International Gold: $4,400 per ounce (up by $62)
Silver Rates: Silver also saw a notable increase today, following the bullish trend of precious metals:
Silver 24Kt (per Tola): Rs 7,205 (up by Rs 218)
Silver 24Kt (10 grams): Rs 6,177 (up by Rs 187)
International Silver: $69.30 per ounce (up by $2.18)
According to Muhammad Qasim Shikarpuri, president of the association, these rates are calculated based on the current interbank exchange rates and the global price of gold, which has climbed to $4,400 per ounce.
Traders attribute the local spike to the combined effect of a volatile rupee and the steady rise in international bullion prices.
