Gold price rebounds, rises by Rs2,500 per tola in local market

KARACHI: Gold prices in Pakistan saw an uptick on Monday bouncing back after a dip in the last session. The rise reflected the surge in global gold prices.

The price of gold per tola went up by Rs2,500, reaching Rs269,900. In terms of 10 gramme, it was priced at Rs231,396, which was Rs2,144 higher than the previous rate, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

This shift follows a decrease on Saturday when the price of gold per tola dropped by Rs300, settling at Rs267,400.

Last month, gold in local market reached an all-time high of Rs287,900 per tola. Meanwhile, on the international market, gold prices climbed more than 1 per cent on Monday, following sharp declines the previous week.

International rates

On the global front, the price of gold rose to $2,587 per ounce, up by $25 from the previous day, with a premium of $20, according to APGJSA. Silver prices, however, remained steady at Rs3,250 per tola.

This rise came as the rally in the dollar paused, with investors waiting for comments from Federal Reserve officials later this week for further guidance on US interest rate moves.

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