Gold price increases by Rs300, reaches to Rs424,536 per tola in Pakistan

Karachi (Web Desk): Gold prices continued to climb in Pakistan on Monday, with both local and international markets recording fresh gains amid ongoing fluctuations in precious metal prices.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased by Rs300 per tola, taking it to Rs424,536.

Similarly, the price of 10 grams of 24-karat gold rose by Rs258 to Rs363,971.

Silver prices also moved higher in the domestic market. The price of 24-karat silver per tola increased by Rs107 to Rs6,177, while the price of 10 grams of silver climbed Rs91 to Rs5,295.

In the international market, gold prices also registered an increase, with the price of gold per ounce rising by $3 to $4,021. Meanwhile, silver per ounce gained $1.07, reaching $56.98.

According to the Sarafa market, movements in global gold prices continue to have a direct impact on Pakistan's domestic market, resulting in frequent changes in local gold rates.

Market experts said the latest increase is being driven by higher international gold prices, fluctuations in the value of the US dollar, ongoing global economic and geopolitical uncertainty, and growing investor demand for gold as a safe-haven asset.

Experts have advised investors and buyers to closely monitor both domestic and international market trends before making decisions to buy or sell gold, as even minor developments in the global economy can significantly influence precious metal prices.