Rising oil prices and dollar strength push gold rates higher in Pakistan
1 min readGold prices in Pakistan recorded an increase on Monday in line with their gain in the international market.
In the domestic market, the gold price per tola gained Rs900 to reach Rs477,162.
The price of 10 grams of gold also climbed by Rs772, reaching Rs409,089.
The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) maintained that the surge in gold prices reflected uncertainty at the global market following the outbreak of the US-Iran conflict.
Soaring oil prices, increased dollar strength against the euro and other currencies, and higher energy import costs have contributed to the upward pressure on gold.
Meanwhile, the bullion price in the international market went up by $9, with the rate touching $4,548 per ounce.
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