KARACHI: Gold prices in Pakistan’s local markets rebounded on Monday, bringing an end to a prolonged downward trend. Silver prices also recorded gains in the domestic market, while international bullion prices moved higher.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold increased by Rs1,400 per tola to Rs423,436 at the start of the trading week.
The price of 10 grams of 24-karat gold also rose by Rs1,201 to Rs363,028.
Meanwhile, 10 grams of 22-karat gold became Rs1,101 more expensive, reaching Rs332,787, according to the rates released by the association.
Silver Prices Also Increase
Silver prices followed the upward trend in the local market. The price of one tola of silver increased by Rs20 to Rs5,878, while the rate for 10 grams rose by Rs17 to Rs5,039.
International Gold and Silver Rates
Gold prices also advanced in the international bullion market. The price of gold increased by $14 per ounce to $4,009, recovering the key $4,000 level.
International silver prices also edged higher, rising by 0.20% to $54 per ounce.
The latest gains in domestic and international markets mark a reversal in the recent downward trend in gold prices in Pakistan. Investors and jewellery buyers will be watching market movements closely for further changes in precious metal rates.
