Gold prices in Pakistan hit a fresh record high on Monday, in line with their increase in the international rates. In the local market, gold price per tola reached Rs403,600 after a single-day rise of Rs5,900.
Similarly, 10-gram gold was sold at Rs346,021 after it registered an increase of Rs5,058, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Saturday, gold price per tola reached Rs397,700 after a gain of Rs1,900 during the day.
The international rate of gold also increased today. As per APGJSA, the rate was at $3,818 per ounce (with a premium of $20), an increase of $59 during the day.
Moreover, silver price increased by Rs88 per tola to reach Rs4,792.
Meanwhile, international gold prices rose to an all-time high on Monday, supported by a weaker dollar and growing expectations that the Federal Reserve is likely to continue with interest rate cuts later this year.
Spot gold was up 0.8% at $3,789.39 per ounce as of 0251 GMT, after hitting a record high of $3,798.32 earlier in the session.
U.S. gold futures for December delivery rose 0.3% to $3,818.30.
The U.S. dollar index eased 0.2% against its rivals, making greenback-priced bullion less expensive for overseas buyers.
