Gold prices in Pakistan rose on Monday, following the upward movement of the international market.
In the local market, the price of gold per tola reached Rs446,862 after increasing by Rs2,700. The rate for 10 grams also went up by Rs2,315, bringing it to Rs383,112, according to the All-Pakistan Gems and Jewellers Sarafa Association. On Saturday, gold had already climbed to Rs444,162 per tola after a rise of Rs5,300.
On the global front, gold gained $27, pushing it to $4,245 per ounce, which includes a $20 premium. Silver prices in Pakistan also went up, increasing by Rs54 to reach Rs5,963 per tola.
International gold rates held mostly steady after touching a six-week high on Monday, as early risk-off sentiment shaped market activity and investors watched for a possible US interest rate cut later this month.
Spot gold slipped slightly by 0.1 percent to $4,225.91 per ounce at 0534 GMT, after briefly hitting its highest point since October 21. US gold futures for December delivery rose by 0.1 percent to $4,260.20.
Silver increased 0.7 percent to $56.78 per ounce after earlier touching a record high of $57.86.