KEY POINTS
- Gold rises Rs2,700 per tola to Rs446,862, says APGJSA
- International price reaches $4,245 per ounce after $27 jump
- Silver climbs Rs54 to hit Rs5,963 per tola
- Global bullion trades near six-week high ahead of expected US rate cut
ISLAMABAD: Gold prices climbed in the domestic market on Monday, tracking another strong session in the international bullion trade, with the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reporting a Rs 2,700 increase in the per-tola rate.
According to APGJSA, the price of gold rose to Rs 446,862 per tola, up from Rs 444,162 on Saturday. The association added that the 10-gram price also moved higher, reaching Rs 383,112 after an increase of Rs 2,315.
The increase was driven by renewed strength in the international market, where the global gold price rose by $27 to $4,245 per ounce, including a premium of $20, as noted by APGJSA.
International market
Gold held close to a six-week high as early-session risk aversion supported safe-haven demand, with investors assessing the likelihood of a US interest-rate cut later this month.
Spot gold eased marginally to $4,225.91 per ounce after touching its strongest level since October 21, while US gold futures for December delivery inched up to $4,260.20.
Silver continues its upward trend. APGJSA also reported a sharp move in silver, with the local per-tola rate increasing from Rs 54 to Rs 5,963.
International silver prices rose 0.7% to $56.78 per ounce after earlier hitting a record high of $57.86.
