Gold prices soared to a fresh record high in Pakistan on Monday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs393,700 after a single-day rise of Rs3,400.
Similarly, 10-gram gold was sold at Rs337,534 after it registered an increase of Rs2,915, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Saturday, gold price per tola reached Rs390,300 after a gain of Rs1,700 during the day.
The international rate of gold also increased today. As per APGJSA, the rate was at $3,719 per ounce (with a premium of $20), an increase of $34 during the day.
Meanwhile, silver price increased by Rs63 per tola to reach Rs4,595.
Additionally, international gold hovered near a record high on Monday as investors braced for a slew of speeches from U.S. Federal Reserve officials and inflation data this week, after the central bank cut interest rates last week and signalled potential further easing.
Spot gold edged up 0.1% to $3,688.76 per ounce by 0217 GMT. Bullion hit a record high of $3,707.40 on Wednesday.
U.S. gold futures for December delivery climbed 0.5% to $3,723.70.
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