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Gold prices in Pakistan surged on Monday, rebounding from the previous session’s decline, as the price per tola rose by Rs4,000 to reach a new all-time high of Rs303,000 in the local market.
Similarly, the price of 10-gram gold increased by Rs3,429, settling at Rs259,773, according to figures released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
On the international market, gold also hit a record high, with APGJSA reporting a price of $2,903 per ounce (including a $20 premium), reflecting a $42 increase during the day.
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This surge follows a dip on Saturday when gold prices in Pakistan fell by Rs1,046 per tola, closing at Rs299,000.
Meanwhile, silver prices also rose, gaining Rs43 to reach Rs3,373 per tola.
Gold is often seen as a safe-haven investment during economic and financial uncertainty; however, higher interest rates typically diminish its appeal as a non-yielding asset.
