In a notable development, both the global and Pakistani gold markets saw a sharp rise in the prices of yellow metal on Monday.
According to the 24News HD TV channel, one tola of pure gold of 24 karats has witnessed a price hike of Rs3,100 to Rs2,29,900.
The price of 10 grams of pure gold of 24 karats has risen by Rs2,658, marking a new price point of Rs1,97,102 per 10 grams.
The price of 22 karats of gold usually used for jewellery making in Pakistan has also increased and traded at Rs1,80,677 per 10 grams.
In the international market, the price of gold also increased by US$2 per ounce to US$1891 per ounce on Monday. This global shift in gold prices can be attributed to a combination of factors impacting the precious metal's demand and supply dynamics.
On the other hand, the price of pure silver of 24 karats did not change and traded at Rs2,800 per tola and Rs2400.54 per 10 grams.