KARACHI – Gold prices recorded a slight increase in domestic market on Monday amid rising global rates.
Data shared by All Pakistan Gems and Jewellers Association showed per tola price moved up by Rs800 to settle at Rs493,162.
Similarly, the price of 10-gram surged by Rs686 with new rate settling at Rs423,492.
The precious commodity recorded a modest increase of $8 in international market where per ounce rate hovered at $4,716.
However, the silver prices remained unchanged at Rs8,049 per tola and Rs6,900 per 10-gram in local market.
In previous session, the prices of gold increased by Rs 2,300 to settle at Rs 493,162 compared to Rs 490,862 on the previous trading day.
Similarly, the price of 10 grams of 24 karat gold rose by Rs 1,971 to Rs 422,806 from Rs 420,835.
Meanwhile, oil markets witnessed sharp hike on Monday as rising geopolitical tensions sent prices climbing, after fresh setback in peace talks between United States and Iran.
Global benchmark Brent crude jumped by 2.2%, reaching $107.70 per barrel, while U.S. crude surged 2.1% to hit $96.40 per barrel. The spike comes after Donald Trump revealed on Saturday that Washington had abruptly cancelled a planned visit of its delegation to Pakistan for negotiations with Iranian officials, casting serious doubt over diplomatic progress.
