Commodities
Pakistani Gold Prices Soar by Rs1,700 per Tola Amid Global Market Shift
Gold prices in Pakistan increased by Rs1,700 per tola on Monday, following a rise in the international market. The All Pakistan Sarafa Gems and Jewellers Association announced that 24-karat gold rates reached Rs428,436 per tola.
The price of 10-gram gold also rose by Rs1,457 to Rs367,314. In the international market, gold prices increased by $17 to $4,060 per ounce.
Typically, gold prices in Pakistan's local market are adjusted by a premium of $20 against rates in the international market. Silver rates in Pakistan also increased by Rs54 to Rs6,291 per tola.
The rise in gold and silver prices is likely due to the increase in demand from investors seeking safe-haven assets amidst economic uncertainty.