ISLAMABAD: Gold prices in Pakistan jumped on Monday after several days of decline in line with their gain in the international market.
In the local market, gold price per tola rose to Rs437,536 after a gain of Rs1,200 during the day.
According to the All Pakistan Sarafa Association, the price of one tola of gold reached Rs437,536 after the latest increase.
The price of 10 grams of gold also rose by Rs1,029, reaching Rs375,116.
The price of silver increased by Rs66 per tola to Rs6,588.
Meanwhile, gold prices in the international market rose by $12 per ounce to $4,150.
Gold Price Last Week
On the last trading day of the previous week, the local price of gold had registered a sharp decline of Rs4,300 per tola.
Gold prices are influenced by several global and domestic factors, including movements in the US dollar, economic uncertainty, geopolitical tensions and investor sentiment.
During periods of economic and political uncertainty, investors often turn to gold as a safe-haven asset. Increased demand can push international gold prices higher, while easing uncertainty can put downward pressure on prices.
In Pakistan, the international price of gold and fluctuations in the rupee-dollar exchange rate are among the key factors that determine prices in the local bullion market.
