Gold prices in Pakistan rise Rs7,400 per tola

Gold saw a significant increase of Rs7,400 on Monday, bringing its price to Rs429,862 per tola. The rise also impacted the global market, where spot gold climbed 1.4% to $4,053.40 per ounce.

US gold futures gained momentum as well, rising 1.3% to $4,062.40 per ounce.

Ten grams of gold now cost Rs368,530, up by Rs6,337 from the previous rate.

Silver prices recorded a modest increase of Rs116, reaching Rs5,209 per tola. Meanwhile, the Pakistani rupee strengthened against the dollar, closing at Rs280.82, a 0.07% rise from last week.

The All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the international gold rate is $4,075 per ounce, with a $20 premium, marking a daily increase of $74.

These fluctuations in prices are a result of cautious investor sentiment in the Pakistani market amid global inflationary pressures.