KARACHI: Gold and silver prices continued their upward trend in both international and domestic markets on Monday.
In the international bullion market, the price of gold increased by $8 per ounce, reaching $4,349 per ounce.
In Pakistan, the price of gold per tola rose by Rs800 to reach Rs457,336, while the price of 10 grams of gold increased by Rs685 to Rs392,091.
Silver prices also witnessed an increase, with the price per tola rising by Rs77 to Rs6,903. The price of 10 grams of silver climbed by Rs66 to Rs5,918.
Gold has traditionally been regarded as a safe-haven investment, with its value typically rising during periods of inflation, political uncertainty and economic instability.
For centuries, gold has served as both a store of wealth and a form of currency. Investors often turn to the precious metal when confidence in other asset classes weakens, making it a preferred hedge against market volatility.
Last year, Pakistan revised its mechanism for determining domestic gold prices. Under the new formula, the local gold price is set at $20 per ounce above the prevailing international market rate, reflecting adjustments made by the country’s bullion pricing system.
More read, Gold prices rise for fourth consecutive day in Pakistan
Earlier, Gold prices continued their upward trend for the fourth consecutive day, with the price of one tola of gold increasing by Rs2,200 in the domestic market.
According to market data, the price of one tola of gold reached Rs456,536 after the latest increase.
The price of 10 grams of gold also rose by Rs1,887, reaching Rs358,406.
In the international market, gold prices increased by $22, taking the price of gold to $4,341 per ounce.
Meanwhile, the price of one tola of silver declined by Rs113, settling at Rs6,826 in the local market.
