KARACHI – Gold prices continued their upward trend on Monday, reaching new highs in both local and international markets amid growing global uncertainty.
In Pakistan, the price of 24-karat gold per tola rose by Rs1,600, hitting Rs359,700, while the rate for 10 grams increased by Rs1,371, closing at Rs308,384.
Internationally, gold prices climbed to a three-week peak of $3,372 per ounce, fueled by rising demand as investors seek safe options amid global economic concerns and trade tensions.
Experts say the surge is driven by several factors, including central banks increasing their gold reserves, geopolitical tensions, and a weakening rupee, which is further pushing local prices upward.
Gold traders believe the upward momentum may continue in the coming weeks, especially if global markets remain unstable and the US dollar stays strong.
For local buyers, however, the rising prices are making gold jewellery more expensive, affecting wedding season shopping and retail demand.
This story has been reported by PakTribune. All rights reserved.