KARACHI: Gold prices in Pakistan surged sharply on Monday, with the price of 24-karat gold increasing by Rs4,000 per tola, following gains in the international bullion market.
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 settled at Rs431,736 per tola, up from the previous session.
The price of 10 grams of 24-karat gold rose by Rs3,430 to Rs370,144, while 10 grams of 22-karat gold increased by Rs3,145 to Rs339,311.
In the international market, gold prices climbed by $40 to $4,093 per ounce, contributing to the upward trend in domestic bullion rates.
Meanwhile, silver prices also moved higher. The price of 24-karat silver increased by Rs100 to Rs6,397 per tola, while 10 grams of silver gained Rs86 to Rs5,484. International silver prices rose by $1.00 to $59.18 per ounce.
The local bullion market determines gold and silver prices on the basis of international market trends and the rupee-dollar exchange rate, with rates issued by the Karachi-based APSGJA serving as the benchmark across Pakistan.
