Gold prices in Pakistan edged higher on Monday, mirroring a rebound in global markets. According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 11.7 grams (per tola) of gold rose by Rs1,500 to Rs301,500. Meanwhile, 10-gramme rates increased by Rs1,286 to Rs258,487.

The uptick in gold prices was also reflected in the global market, where bullion prices gained following a three-week low in the previous session. Spot gold prices rose 0.5% to $2,873.93 an ounce, while US gold futures climbed 1.3% to $2,885.

The dollar index dropped 0.6% from a two-week high, making dollar-priced gold more affordable for buyers holding other currencies. According to Han Tan, chief market analyst at Exinity Group, “Gold’s downside remains limited, given the apparent demand for safe havens amid rising geopolitical and economic growth uncertainties”.

In other developments, silver prices in Pakistan ticked up by Rs30 to Rs3,270 per tola and Rs26 to Rs2,803 per 10 grammes. The World Gold Council (WGC) reported that central banks purchased over 1,000 tons of gold in 2024, marking the third consecutive year of significant buying. Total gold demand, excluding over-the-counter trading, rose 1% to 4,553.7 tons last year, the highest since 2022.