Gold Prices Again on the Rise in Pakistan

Gold prices in Pakistan rose on Monday, in line with the gains in the international market. In the local market, the price of gold per tola climbed to Rs. 446,862 after an increase of Rs. 2,700 during the day. Similarly, 10-gram gold was sold at Rs. 383,112, up by Rs. 2,315, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, the gold price per tola had reached Rs. 444,162 after a jump of Rs. 5,300 during the day. Internationally, the price of gold increased by $27 to reach $4,245 per ounce, including a $20 premium. The price of silver in the local market also surged by Rs. 54 to Rs. 5,963 per tola. Global gold prices were mostly steady after hitting a six-week high on Monday, as early risk-off sentiment influenced trading and investors focused on the possibility of a US interest rate cut later this month. Spot gold was down 0.1 percent at $4,225.91 per ounce as of 0534 GMT, after touching its highest level since October 21. US gold futures for December delivery gained 0.1 percent to $4,260.20. Silver jumped 0.7 percent to $56.78 per ounce after earlier hitting an all-time high of $57.86.