Gold sees Rs4,000 surge in Pakistan amid global jump

Gold prices in Pakistan continued their upward trend on Monday, reflecting gains in the international bullion market.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold rose by Rs4,000 per tola, reaching Rs342,500. Similarly, the rate for 10 grams of gold increased by Rs3,429, settling at Rs293,638.

The local price hike follows a similar increase over the weekend. On Saturday, gold had climbed Rs2,400 per tola, closing at Rs338,500.

In the international market, the price of gold rose by $40, reaching $3,241 per ounce (including a $20 premium), according to APGJSA data.

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Meanwhile, silver prices remained unchanged, with the rate for one tola steady at Rs3,410.

The consistent rise in gold prices is attributed to growing demand in the global market amid geopolitical tensions and economic uncertainty, which typically drive investors towards safe-haven assets such as gold.