Gold prices in Pakistan recorded a significant jump on Monday, mirroring the upward trend in the international market.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of 24-karat gold rose by Rs. 8,100 per tola, reaching Rs. 357,800 compared to the previous rate of Rs. 349,700. The rate for 10 grams of 24-karat gold increased by Rs. 6,944 to hit Rs. 306,755, while 10 grams of 22-karat gold climbed by Rs. 6,366 to Rs. 281,202.
On the global front, gold prices surged by $69 per ounce, touching $3,395. Meanwhile, silver prices also saw an upward trend, with local rates increasing by Rs. 24 to Rs. 3,441 per tola.
Experts attribute the rapid rise in gold prices to global economic uncertainties and escalating tensions between major economies like the US and China, prompting investors to turn to gold as a safe-haven asset.
