Pakistan Gold Prices Rise Amid Ongoing Geopolitical Tensions

Gold prices in Pakistan rose on Monday after falling significantly over the weekend. The local price of 24-karat gold increased by Rs1,700 per tola to settle at Rs428,436, while the price of 10 grams of gold rose by Rs1,457 to reach Rs367,314.

The international gold market experienced a slight decline, with spot gold falling 0.1% to $4,037.01 per ounce and US gold futures for August delivery declining 0.3% to $4,035.80 per ounce.

Analysts attribute the increase in local gold prices to ongoing geopolitical tensions and expectations of fresh economic developments in the United States, which are causing global investors to remain cautious.

Silver prices in Pakistan also rose, with the price of silver increasing by Rs54 per tola to reach Rs6,291.