Gold prices in Pakistan maintained their upward trajectory on Monday in line with their increase in the international rates. In the local market, the price of gold per tola increased by Rs500, clocking in at Rs282,300, which is the latest record high in Pakistan.
Similarly, 10-gram gold was sold at Rs242,027 after it recorded an increase of Rs429, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Saturday, gold price had increased by Rs900 to settle at a then-record high level of Rs281,800.
Meanwhile, the international rate of gold increased on Monday. As per APGJSA, the rate was at $2,726 per ounce (with a premium of $20) and was up by $5 during the day.
Silver prices remained unchanged at Rs3,150 per tola.
Globally, gold rose to a fresh high on Monday, extending its blazing rally amid uncertainties surrounding the US election, simmering Middle East tensions and rate cuts by major central banks, while silver scaled a near 12-year peak.
Gold is considered a safe investment during times of economic and political turmoil.
American Dollar Exchange Rate