Pakistan’s Gold Prices Rise, Almost Touch Rs. 400,000 per Tola

Gold prices in Pakistan surged on Tuesday, following international market gains driven by expectations of a cut in US interest rates.

Gold prices in Pakistan, The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) confirmed that gold per tola surged Rs. 4,700 to Rs. 391,000.

Ten grams of gold leaped by Rs. 4,030 to an all-time high of Rs. 335,219 in local trade.

Gold per tola had been stable at Rs. 386,300 on Monday with no significant fluctuations.

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APGJSA quoted international gold prices at $3,692 per ounce with a premium of $20 and an increase of $49 per day.

Silver also moved up with gold, rising Rs. 53 to Rs. 4,496 per tola in the local market.

Spot gold in the international market hit a high of $3,689.27 per ounce before softening later in the session to $3,681.18.

US December-delivery gold futures held steady, quoting $3,718.50 in the commodities market.