The price of gold witnessed a staggering surge in the domestic market on Monday, with the cost of a 24-karat tola soaring past the historic Rs400,000 mark after a massive single-day jump of Rs5,900.
According to data released by the All Pakistan Sarafa Gems and Jewellers Associations, the value of one tola of 24-karat gold settled at a new high of Rs403,600. Similarly, the rate for 10 grams of 24-karat bullion climbed by Rs5,058 to reach Rs346,021.
The cost of 10 grams of 22-karat gold also saw a significant appreciation, rising by Rs4,637 to a new rate of Rs317,197. This domestic rally mirrored a powerful upward trend in the global market, where the international gold price escalated by $59 to close at $3,818.
The silver market also followed the bullish trend, albeit with more moderate gains. The price of a 24-karat tola of silver increased by Rs88, settling at Rs4,792.
Correspondingly, the rate for 10 grams of 24-karat silver went up by Rs76 to Rs4,108. In the international arena, silver’s value experienced an upswing of $0.88, with its price recorded at $46.93.