Gold prices in Pakistan rose 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 increased by Rs. 1,300 to reach Rs. 423,862, while the rate for 10 grams of gold went up by Rs. 1,115 to Rs. 363,393.
This rise followed a weekend decline, when the per tola price had dropped by Rs. 1,600 to Rs. 422,562 on Saturday. In global markets, gold prices also strengthened, with the APGJSA reporting an international rate of $4,015 per ounce (including a $20 premium), marking a $13 increase during the day. Silver prices in Pakistan moved higher as well, gaining Rs. 25 per tola to settle at Rs. 5,152.
On the international front, gold prices remained steady on Monday, supported by a stronger U.S. dollar as investors adjusted their expectations for further Federal Reserve rate cuts in the near term. The easing of U.S.-China trade tensions also reduced demand for bullion as a safe-haven asset.
Spot gold held at $4,000.65 per ounce as of 0504 GMT, while U.S. gold futures for December delivery edged up 0.4% to $4,010 per ounce. Despite the modest recovery, prices remain about 9% below the record high of $4,381.21 reached on October 20, as the dollar continues to trade near a three-month peak.
