Gold rates surge by Rs7,800/tola

Gold prices in Pakistan witnessed a sharp increase on Monday, mirroring a global rally in the precious metal as a weaker US dollar and growing safe-haven demand pushed international prices higher ahead of a key policy decision by the US Federal Reserve later this week. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs7,800, reaching Rs350,000 in the local market. Similarly, the rate for 10 grams climbed by Rs6,687 to Rs300,068. In the international market, gold surged by $76 during the day, closing at $3,316 per ounce reflecting a gain of more than 2%.