Gold prices continued their upward trend on Monday, gaining in both international and domestic markets. The rally of the precious metal extended its positive trend over multiple sessions, reflecting strong investor interest in safe-haven assets.
Global bullion rates increased by $16, reaching $3,372 per ounce, marking one of the highest price levels in recent weeks. Spot gold demonstrated notable strength, trading at $3,367.51 per ounce with a 0.4% intraday gain. This performance exceeded previous peaks recorded on June 23, indicating renewed market confidence.
Read: Gold Rates in Pakistan Remain Stable at Rs357,000/Tola After Recent Gains
Pakistan’s local gold market reflected the rise in international gold prices, resulting in significant price changes. The price of 24-karat gold increased by Rs1,600 per tola, reaching a new high of Rs359,700. Similarly, the price for 10 grams rose by Rs1,371, bringing it to Rs308,384, in line with global trends.
Market analysts attribute the sustained price growth to multiple factors, including currency fluctuations, geopolitical uncertainties, and shifting investment patterns. The consistent demand for gold as a stable asset class continues to support its valuation across the market.
