Gold prices climb in Pakistan, globally

Gold prices in Pakistan saw a notable increase on Monday, following a rise in international rates. 

According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of gold per tola increased by Rs2,500, reaching Rs269,900. Similarly, the price of 10-gram gold rose by Rs2,144, settling at Rs231,396.

This rise in local prices comes after a slight decline in the previous session. On Saturday, the price of gold per tola had dropped by Rs300, closing at Rs267,400.

The global price of gold also saw an uptick on Monday, with the rate reaching $2,587 per ounce, a $25 increase from the previous day. The international gold market had been under pressure recently but rebounded as the dollar rally paused.

 Market participants are also awaiting comments from Federal Reserve officials this week for further direction on U.S. interest rates.

In contrast, silver prices remained unchanged at Rs3,250 per tola in Pakistan.

Gold prices in Pakistan had hit a record high of Rs287,900 per tola last month, but have since fluctuated with the global market trends. As of now, the local market continues to reflect the upward movement in international gold prices.