Gold prices in Pakistan rose on Monday, ending a five-day losing streak that had shaved roughly Rs. 17,000 off a tola.
According to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 24-karat gold climbed Rs. 1,400 to Rs. 423,436 per tola.
The cost of 10 grams of 24-karat gold also went up by Rs. 1,201, reaching Rs. 363,028.
Recovery After Five Days of Losses
Monday's rise followed five consecutive sessions of decline. On Saturday, the tola price fell Rs. 2,500 to Rs. 422,036.
The downward trend began on Tuesday, with the steepest drop occurring on Friday when gold slumped Rs. 7,000 per tola in a single day.
Even after the recent increase, the price remains about Rs. 18,600 below the monthly high of Rs. 442,036 per tola recorded on October 10.
Global Gold Back Above $4,000
The local market mirrored the global movement.
Internationally, gold rose $14 to $4,009 per ounce, pushing the price back over the $4,000 threshold after closing at $3,995 on Saturday.
Silver also saw a rise, with its price per tola up Rs. 20 to Rs. 5,878.
Before the recent losing streak, gold had been trading at Rs. 439,036 per tola.
The Monday gain recovers only a small portion of that decline, and the local price stays well under the Rs. 4.4 lac level it surpassed earlier this month.
