KARACHI: Gold prices in Pakistan rebounded on Monday, with the price of 24-karat gold increasing by Rs1,700 per tola, following a recovery in international bullion prices.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), whose Karachi bullion market rates are applicable across the country, the price of 24-karat gold rose to Rs428,436 per tola, up from Rs426,736 in the previous session.
Similarly, the price of 10 grams of 24-karat gold increased by Rs1,457 to Rs367,314, while 10 grams of 22-karat gold gained Rs1,335 to settle at Rs336,716.
The upward trend in the domestic market came in line with gains in the international bullion market, where the price of gold rose by $17 to $4,060 per ounce.
Silver prices also registered an increase. The price of 24-karat silver climbed by Rs54 to Rs6,291 per tola, while 10 grams of silver rose by Rs46 to Rs5,393. In the international market, silver prices gained 54 cents to $58.12 per ounce.
Bullion dealers said the local market continues to closely track movements in international gold prices, with domestic rates largely influenced by global bullion trends and fluctuations in the interbank exchange rate.
Market analysts said investors remain focused on global economic developments, central bank monetary policies, inflation trends and the outlook for the US dollar, all of which are expected to remain key drivers of gold prices in the coming days.
