KARACHI: Gold prices remained stable on Monday in the Pakistani market, providing a sense of relief to buyers after a turbulent weekend.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of one tola stood unchanged at Rs430,662, mirroring the figures reported two days earlier. Similarly, the rate for 10 grams of gold remained steady at Rs369,223.
This period of calm follows a significant drop on Saturday, when the per tola price declined by Rs9,100 during intraday trading. While the local market witnessed fluctuations, the international gold price showed little change, standing at $4,083 per ounce with a $20 premium.
Silver, on the other hand, headed in the opposite direction. Its rate increased by Rs55, rising to Rs5,368 per tola, indicative of heightened demand among smaller investors.
Globally, markets opened the week cautiously. Spot gold edged up by 0.1 percent to $4,083.92 per ounce during early Monday trading, whereas US December futures experienced a slight dip to $4,085.30 per ounce.
Market participants are now closely observing several upcoming US economic reports that may shed light on the Federal Reserve’s approach toward interest rates in the near future.
