Gold up as global rates hit 3-month high
Gold prices in Pakistan have surged to record highs, tracking a global rally driven by US Treasury bond buybacks and a weakening dollar. Analysts suggest the metal may continue to climb toward $4,800 before a potential market correction.
Why it matters
Rising gold prices reflect global economic uncertainty and shifting monetary policies, impacting local currency stability and investor behavior in emerging markets.
--> Home Business Gold up as global rates hit 3-month high Jumps Rs4,200 to Rs487,136/tola; rupee inches up
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Gold prices in Pakistan rose on Monday, tracking a strong international rally that pushed the metal to its highest level in more than three months.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-carat gold per tola reached Rs487,136 after gaining Rs4,200. Ten-gram gold was quoted at Rs417,640, up Rs3,601. On Saturday, the per-tola rate had risen Rs5,700. In the global market, spot gold rose 1.5% to $4,673.20 per ounce by 1535 GMT, its highest level since May 14. US gold futures for December delivery advanced 1.1% to $4,730.40 an ounce, as per Reuters.
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