Gold prices surge sharply in domestic market

Gold prices in Pakistan witnessed a sharp uptick on Monday, rising by Rs5,900 per tola to reach Rs353,100 for 24-karat gold.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24-karat gold posted a substantial gain, increasing by Rs5,058 to settle at Rs302,726.

Meanwhile, 10 grams of 22-karat gold were priced at Rs277,508, marking a rise of Rs4,636.

Internationally, the precious metal saw a $59 per ounce increase, with gold trading at $3,347 amid a surge in demand for safe-haven assets driven by global economic uncertainty, analysts said.

Silver prices, however, remained steady. The local market held silver rates at Rs3,456 per tola and Rs2,962 per 10 grams.

On the global front, silver was priced at $32.98 per ounce.