ISLAMABAD – Gold reached historic high in domestic market of Pakistan on Monday in line with rising global prices.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price surged by Rs3,500 to reach fresh high of Rs393,700.
Similarly, the price of 10-gram gold moved up by Rs2,915 to settle at Rs337,534.
The bullion rates also scaled fresh record high in international market where per ounce rate increased by $34 to reach $3,719.
Meanwhile, Pakistani rupee gained ground against US dollar on first working day of the week, rising 0.06percent to 281.28, with single-day gain of Re0.18.
Last week, the currency had also edged up slightly, closing at 281.46 compared to 281.55 the previous week, according to the State Bank of Pakistan.
On the global front, greenback remained stable as investors awaited a series of Federal Reserve speeches that could indicate the future direction of interest rates.
Early Asian trading saw subdued currency movements after last week’s volatility driven by rate decisions from the Fed, Bank of England, and Bank of Japan.
Oil prices edged higher, supported by geopolitical tensions, with Brent crude at $66.96 per barrel and US West Texas Intermediate crude at $62.88 per barrel.
