Gold price in Pakistan remains unchanged at Rs262,500 per tola

KARACHI: In the local bullion market, the price of 24-karat gold per tola stayed steady at Rs262,500 on Monday. Similarly, the price for 10 grammes of gold was recorded at Rs225,051, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

This follows a Rs1,000 increase in the price of gold per tola on Saturday. Internationally, gold prices also remained unchanged on first trading day of the week, with the rate standing at $2,503 per ounce, including a $20 premium, according to APGJSA.

It’s important to note that gold prices reached an all-time high in August, hitting Rs263,700 per tola. The current price is just Rs1,200 below that record.

In the silver market, rates remained stable, with silver priced at Rs2,950 per tola.

On the currency front, the Pakistani rupee (PKR) showed little movement against the US dollar (USD) in early trading on Monday. The PKR was valued at 278.53 per USD, marking a slight increase of Re0.01.

Globally, the US dollar reached a two-week high against the euro as traders adjusted their expectations regarding potential policy changes by the Federal Reserve. Market attention is now focused on an upcoming US jobs report due later this week.