Gold prices in Pakistan surged on Monday, following gains in the international market. The price per tola reached Rs443,762 after rising Rs1,600 during the day. Similarly, 10-gram gold increased by Rs1,372 to sell at Rs380,454, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Saturday, gold had declined by Rs2,300 per tola to reach Rs442,162. Analysts said the rebound reflects rising demand and international market trends. The rise also coincides with a softer US dollar, which makes gold cheaper for foreign buyers.
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Internationally, gold increased by $16 to $4,214 per ounce, with a $20 premium. Spot gold climbed 0.3% to $4,212.70 per ounce as of early Monday GMT. US gold futures for December delivery remained steady at $4,241.30 per ounce.
Silver prices also moved higher, rising Rs30 to Rs6,102 per tola. Experts noted that precious metals gained as traders anticipated a potential US Federal Reserve interest-rate cut. This expectation boosted market confidence and demand for gold globally.
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The local surge in gold prices reflects both domestic buying and global trends. Investors are closely monitoring international rates and currency movements. Analysts expect gold to remain sensitive to changes in the US dollar and Fed policy decisions.