Bullion Jump Lifts Pakistan Gold Rates Sharply
A bullion jump pushed local gold rates higher on Monday. Prices followed strong cues from overseas markets. As a result, buyers saw sharp gains across major cities.
In the domestic market, gold per tola reached Rs464,762. The rate climbed by Rs9,200 in a single session. Traders reported active interest throughout the day.
Ten gram gold also moved higher during trading. It sold at Rs398,458 after a notable increase. However, some buyers stayed cautious due to rising costs.
Market Reacts to Global Momentum
International trends played a key role in the local rise. Global gold prices climbed by $92 to reach $4,424 per ounce. This rate included a premium of $20. Investors often turn to precious metals during uncertain times. Therefore, overseas buying supported prices at home. Analysts say currency movements added further pressure.
On Saturday, prices moved in the opposite direction. Gold per tola fell by Rs4,700 during that session. However, Monday’s rebound erased those losses quickly.
Silver Sets a New Record
Silver prices also moved upward alongside gold. The per tola rate jumped by Rs267. As a result, silver touched Rs8,023, marking a new record.
Many investors now view silver as an alternative hedge. In addition, industrial demand continues to support its appeal. Market watchers expect volatility to remain high.
Jewellery sellers advise buyers to track daily updates closely. Prices may shift quickly due to global signals. Still, long term interest in precious metals remains strong.
