Gold price in Pakistan rises Rs4,200 per tola

Gold prices in Pakistan moved higher on Monday, with 24-karat gold selling at Rs487,136 per tola after a rise of Rs4,200, Mettis Global reported. Rates shared by the All-Pakistan Gems and Jewelers Sarafa Association put 24-karat gold at Rs417,640 per 10 grams, a gain of Rs3,601. The 22-karat price for 10 grams was also quoted higher, at Rs382,850.

Silver was unchanged in the local market, with 24-karat silver priced at Rs7,379 per tola and Rs6,326 per 10 grams. Against the previous session, gold was up Rs4,200 from Rs482,936 per tola, while silver showed no movement.

Abroad, bullion was quoted near $4,645 an ounce after a gain of $20.9, or 0.45 per cent, from the earlier session. Market participants were looking ahead to upcoming U.S. inflation figures and remarks from Federal Reserve Chair Kevin Warsh due later in the week.