Gold and silver prices in Pakistan witnessed a sharp increase on Monday, reflecting gains in the international market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose to Rs. 532,062, showing a daily gain of Rs. 10,900. Meanwhile, 10-gram gold was sold at Rs. 456,157, up Rs. 9,345 from the previous session.
On Saturday, gold per tola had reached Rs. 521,162, after a smaller increase of Rs. 6,500 during the day.
International Market Impact
The surge was supported by global market trends, where the gold rate crossed $5,000 per ounce, gaining $109 to settle at $5,097 per ounce, with a $20 premium. Analysts attributed the rally to:
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Safety flows amid US dollar weakness
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Tensions in Greenland and Iran
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Volatility in the Japanese yen, prompting cautious investor behavior
Silver Prices Also Rise
Silver prices in Pakistan followed the upward trend, increasing by Rs. 627 per tola, reaching Rs. 11,428. This marks a significant gain for investors and traders in the local market.
Impact on Pakistani Consumers
Experts suggest that while jewellers and investors may benefit from the spike, ordinary consumers may face higher prices for gold jewelry and silver items. Market watchers recommend monitoring global trends closely, as international volatility continues to influence local rates.
