Pakistan Gold Rate Soars as Global Price Surges Past $4,330

The international spot gold price has reached $4,330 per ounce on Monday morning, marking a slight dip from its weekend high. Despite this minor correction, financial analysts predict a significant upward revision in local gold prices in Pakistan later today.

Local sarafa markets are expected to adjust their rates to reflect the massive global rally that occurred over the weekend, with a price hike of anywhere between Rs 5,000 to Rs 7,000 per tola anticipated. This adjustment will be necessary due to the significant gap between the current international gold rate and the local benchmark set by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) on Friday.

The international silver price has also maintained its upward momentum, trading at $63.78 per ounce with a 0.49% increase from the previous day. This trend is expected to support strong price hikes in local silver rates as well.