Gold price in Pakistan rises Rs2,000 per tola

Gold prices in Pakistan climbed on Monday, with 24-karat gold selling at Rs461,936 per tola, a rise of Rs2,000, according to Mettis Global. The All-Pakistan Gems and Jewelers Sarafa Association quoted 24-karat gold at Rs396,035 per 10 grams after a gain of Rs1,715. Gold of 22-karat purity rose too, reaching Rs363,045 per 10 grams.

Silver also gained locally, with 24-karat silver fetching Rs7,029 per tola, up Rs80, and Rs6,026 per 10 grams. Internationally, spot gold stood around $4,397 an ounce, a gain of $27, or 0.62%, against the prior session. Mettis Global attributed the global move to a weaker dollar and soft recent economic readings, which reduced the chance of a US rate increase next month.

A comparison table in the Mettis Global report shows 24-karat gold up Rs37,700 per tola over one month. Calendar year to date, the gold rate is higher by Rs4,974, while silver is down Rs689.