Gold prices increase by Rs 5400 per tola

KARACHI: The price of gold in Pakistan saw another significant rise on Monday, according to data released by the All Pakistan Sarafa Jewellers Association.

The price of 24-karat gold per tola increased by Rs 5,400, reaching a new high of Rs 415,278. Similarly, the price of 10 grams of gold rose by Rs 4,629, now standing at Rs 356,033.

According to the jewellers’ association, the surge in domestic gold prices is in line with the upward trend in the international bullion market, where the price of gold climbed by $54, reaching $3,940 per ounce.

The latest price hike reflects continued volatility in the global precious metals market, which has been driving gold prices upward in the local market as well.

Earlier, Gold prices in Pakistan remained steady in line with the trend in international market on Sunday.

According to the Saraffa Association, the opening price of 24-karat gold per tola stood at 407,778 while the rate for 10 grams stood at Rs349,603.

Gold is a valuable commodity widely traded in global markets. Known for its rarity and durability, gold has been used for centuries as a store of value and hedge against inflation. It is traded in various forms, including physical bullion, futures contracts, and exchange-traded funds (ETFs).