Gold prices moved higher across Pakistan on Monday, tracking gains in the international market as investors turned to the safe haven metal.
In the local market, the price of gold per tola climbed by Rs3,000 to reach Rs536,562. The rate for 10 grams also increased by Rs2,572, settling at Rs460,015. The figures were shared by the All Pakistan Gems and Jewellers Sarafa Association.
The rise follows a strong session on Saturday, when the price per tola had already jumped by Rs7,100 to close at Rs533,562. Traders said the upward trend reflects growing demand for gold both at home and abroad.
Silver prices also saw a sharp increase. The metal gained Rs146 per tola, taking its price to Rs9,094.
International market hits three week high
Globally, gold touched a three week high on Monday. The international rate rose by $30 to reach $5,138 per ounce, including a premium of $20. Spot gold was up 0.6 percent at $5,136.22 per ounce by 0729 GMT, after earlier hitting its highest level since January 30. US gold futures for April delivery gained 1.5 percent to $5,157.50.
Market analysts linked the surge to fresh uncertainty in the US. The US Supreme Court struck down a wide range of tariffs introduced by President Donald Trump under emergency powers. The ruling dealt a blow to the former president’s trade policy and created new questions about the direction of US economic strategy.
Following the court’s decision, Trump said he would raise a temporary tariff on US imports from 10 percent to 15 percent.
The news unsettled global markets. Wall Street futures and the dollar weakened in Asian trade, prompting investors to move funds into gold as a defensive choice.
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