KARACHI: Gold and silver prices extended their rally on Monday, recording notable gains in both international and domestic bullion markets.
In global trading, gold prices surged by $30 per ounce, pushing the rate to $5,138. Spot gold rose 0.6% to $5,136.22 per ounce by 0729 GMT after touching its highest level since January 30 earlier in the session. Meanwhile, US gold futures for April delivery advanced 1.5% to settle at $5,157.50.
The upward momentum in international markets translated into sharp increases locally. In the domestic bullion market, the price of gold per tola jumped by Rs3,000 to reach Rs534,562. Likewise, the rate for 10 grams of gold climbed by Rs2,572 to Rs460,015.
Silver prices also followed an upward trend. In the international market, spot silver gained 1.2% to trade at $85.57 per ounce, marking a more than two-week high.
In the local market, silver per tola increased by Rs146 to Rs9,094, while the price of 10 grams rose by Rs125 to Rs7,796.
Market analysts attributed the continued rise in precious metals to sustained global demand and firm investor interest, which supported prices in both international and domestic trading sessions.
