Gold prices in Pakistan moved sharply higher on Monday, tracking strong gains in international markets.
The 24-karat rate was unchanged in all key trading hubs, with Karachi, Lahore, Islamabad, Peshawar, and Quetta each quoting Rs359,800 per tola. The price of 10 grams climbed by Rs3,515 to close at Rs308,470.
Market watchers pointed out that bullion has been on a volatile path in recent weeks. Rates stood at Rs358,300 per tola on August 12, edged down to Rs358,100 on August 13, and slipped further to Rs356,200 by August 16.
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A slight recovery followed, with the metal priced at Rs357,700 on August 18, before moving to its latest high.
The rise is in line with a global rally in gold, where prices jumped by $41 per ounce, pushing the international benchmark to $3,371. Analysts suggested that the surge reflected concerns over economic stability and a preference for safer assets.