Significant Rise in Local Gold Prices
Pakistan’s gold market witnessed a sharp increase in prices on Monday, following a continued uptrend in international markets. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold rose by Rs5,900 per tola, reaching Rs435,762.
Similarly, the rate for 10 grams of gold climbed to Rs373,595, showing a notable increase in just one day. The hike marks yet another upward movement in the ongoing bullish trend that has persisted for several weeks.
Silver Prices Also Climb
Not only gold, but silver prices have also registered gains. The price of silver per tola increased by Rs144, reaching Rs5,353, while 10 grams of silver stood at Rs4,588. Traders attribute the steady rise to both global market momentum and domestic currency depreciation, which typically pushes precious metal prices higher in local markets.
International Gold Prices Hit Record High
On the global front, gold prices rose by USD 59 per ounce, settling at USD 4,134, according to market data. For a detailed look at how international gold crossed the historic $4,000 per ounce mark, you can read more on NewsAlert’s special report. Analysts suggest the surge reflects growing investor interest in safe-haven assets amid concerns over geopolitical tensions and economic instability in several regions.
Experts note that gold remains a preferred investment during uncertain times, as investors shift away from volatile equity markets and currencies.
Outlook for Investors
The latest increase highlights a continued upward trajectory in both local and international gold prices. Market analysts predict that if global trends persist and the Pakistani rupee remains under pressure, domestic gold rates could see further hikes in the coming weeks.
For investors, the current environment presents both opportunity and caution, as fluctuations in global markets continue to influence local pricing dynamics.
