Gold starts week stable as local market price remains unchanged

KARACHI: Gold prices in Pakistan began the week on a quiet note, holding steady in the local market after a sharp climb over the weekend.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola on Monday stood firm at Rs359,800, while the rate for 10 grammes was unchanged at Rs308,470. Silver also held its ground, trading at Rs4,121 per tola.

In the international market, gold maintained its position as well, with the rate recorded at $3,371 per ounce along with a $20 premium.

A look back at last week

The stability on Monday followed a strong finish to the previous week, when gold prices surged by Rs4,100 in a single day on Saturday. This jump pushed the per tola rate from Rs356,200 on August 16 to Rs359,800 by August 23, marking a net weekly gain of Rs3,600 despite several ups and downs during trading sessions.

Rollercoaster month of August

August so far has seen gold prices swing both ways. At the start of the month, rates hovered around Rs352,900 per tola but quickly surged above Rs362,000 in the following days. The market then slipped back towards mid-August, with prices dipping as low as Rs355,200 before rebounding strongly in the third week.