Gold prices in Pakistan climbed new peaks on Monday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs415,278 after a single-day rise of Rs5,400.
Similarly, 10-gram gold was sold at Rs356,033 after it registered an increase of Rs4,629, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Saturday, gold price per tola reached Rs409,878 after a gain of Rs2,100 during the day.
The international rate of gold also increased today. As per APGJSA, the rate was at $3,940 per ounce (with a premium of $20), an increase of $54 during the day.
Moreover, silver price increased by Rs53 per tola to reach Rs4,949.
Moreover, international gold surged past the $3,900-an-ounce level for the first time on Monday, driven by safe-haven demand following a fall in the yen and a US government shutdown, while growing expectations of additional Federal Reserve rate cuts also lent support.
Spot gold was up 0.9% at $3,922.28 per ounce by 0208 GMT, after hitting an all-time high of $3,924.39 earlier in the session.
US gold futures for December delivery gained 1% to $3,947.30.