KARACHI (Kashmir English): The gold prices have increased in both domestic and international markets on Monday.
According to the All Pakistan Gems and Jewelers Sarafa Association, gold became more expensive by Rs 1,300 per tola in the local market, after which the new price was set at Rs 423,862 per tola. Similarly, 10 grams of gold was also sold for Rs 363,393 after an increase of Rs 1,115.
Two days ago, the price of gold per tola fell by Rs 1,600, bringing the price down to Rs 422,562. However, due to an improvement in the global market on Monday, gold became more expensive at the local level as well.
According to the Sarafa Association, the price of gold in the international market increased by $13 to $4,015 per ounce, while the price of silver per tola also increased by Rs25 and the new price was recorded at Rs5,152 per tola.
According to experts, the uncertainty in the global financial markets, the fluctuations of the dollar, and the trend of safe investment by investors have caused continuous fluctuations in gold prices.
The Sarafa Association says that if the same momentum continues in the global market, further increase in gold prices at the local level is possible in the coming days.
According to the World Gold Council, central banks around the world purchased more than 1,000 metric tons of gold during 2024, which is almost twice the average annual purchase of the last decade. Experts believe that increasing global purchasing, a strong dollar, and investment trends have kept the precious metals market active.
Pakistan ranks 49th globally in terms of gold reserves, while China and India rank first and second in Asia.
