Gold prices rise by Rs1,300 per tola in Pakistan

In the international market, the price of gold reported the global rate at $4,015 per ounce on Monday. In the local market, the price of 24-karat gold per tola rose by Rs1,300, reaching Rs423,862.

According to All Pakistan Gems and Jwellers Sarafa Association (APGJSA), the price of 10-gram gold increased by Rs.1, 115 with the new rate standing at Rs.363, 393.

Globally, gold prices saw an upward trend. According to the APGJSA, the international rate stood at $4,015 per ounce (including a $20 premium), marking a $13 increase for the day.

Spot gold remained steady at $4,000.65 per ounce as of 0504 GMT, while US gold futures for December delivery inched up 0.4% to $4,010 per ounce. 

Despite the slight recovery, prices are still down about 9% from the record high of $4,381.21 recorded on October 20, as the US dollar strengthened to its highest level in nearly three months.