Gold prices in Pakistan rose on Monday, tracking an increase in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola jumped by Rs1,300 to Rs423,862.
The price of 10-gram gold also went up by Rs1,115, bringing it to Rs363,393. This rise comes after a weekend dip, when the per tola rate fell by Rs1,600 to Rs422,562 on Saturday.
Globally, gold prices inched higher, with APGJSA reporting the international rate at $4,015 per ounce (including a $20 premium), up $13 for the day.
Silver prices in Pakistan followed suit, increasing by Rs25 per tola to Rs5,152.
Meanwhile, global gold prices steadied on Monday as a firm U.S. dollar and reduced expectations of near-term Federal Reserve rate cuts limited gains. Easing U.S.-China trade tensions further curbed demand for bullion.
As of 0504 GMT, spot gold was little changed at $4,000.65 per ounce, while U.S. gold futures for December delivery rose 0.4% to $4,010 per ounce. Prices have slipped about 9% from the record high of $4,381.21 hit on October 20, following the dollar’s climb to a near three-month peak.
