KARACHI – Gold prices in Pakistan recorded an increase on Monday, with the per-tola rate rising by Rs2,400 to reach Rs412,136, reversing part of the decline witnessed in the domestic market during the previous trading session.
All Pakistan Sarafa Gems and Jewellers Association said that the price of 24-karat gold per tola increased to Rs412,136 following the latest adjustment.
The price of 10 grammes of gold also moved upwards, gaining Rs2,058 to settle at Rs353,340.
The upward movement in local gold prices came alongside an increase in international bullion rates. In the global market, gold gained $24 per ounce to reach $3,896, the association reported.
The latest rise follows a significant correction in Pakistan’s gold market on Saturday, when the price of the precious metal fell by Rs10,800 per tola.
Monday’s increase indicates a partial recovery from the previous decline, although domestic gold rates continue to reflect movements in the international bullion market.
Gold prices in Pakistan are generally influenced by international market trends, changes in the value of the Pakistani rupee against the US dollar and local market conditions. Consequently, fluctuations in global gold rates can affect the prices quoted by jewellers across the country.
The latest increase is being reflected in the benchmark rates used by local bullion traders and jewellery businesses. Buyers and investors keeping track of gold prices are closely watching changes in the international market and their impact on domestic rates.
Gold remains a popular investment and savings option in Pakistan, while its price movements also influence purchasing decisions in the jewellery market.
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