Gold price in Pakistan rises Rs1,400 per tola

Mettis Global reported that local 24-karat gold gained Rs1,400 per tola on Monday, October 26, to reach Rs423,436. The 10-gram rate rose by Rs1,201 to Rs363,028, while 22-karat gold was quoted at Rs332,787 per 10 grams, based on figures from the All-Pakistan Gems and Jewelers Sarafa Association.

Silver also moved higher: 24-karat rates increased by Rs20 to Rs5,878 per tola and by Rs17 to Rs5,039 per 10 grams. Abroad, spot gold traded near $4,016 an ounce, up $19.3, or 0.48%, from the prior session. Mettis linked the international advance to easing inflation concerns after oil prices retreated and investors positioning before the US Federal Reserve’s rate decision later this week.