Gold edged higher in Pakistan’s local bullion market on Monday, with live rate-tracking platforms Pakgold.net and Skardu.pk — both aligned with the Karachi Sarafa Association’s benchmark — putting 24-karat gold at around Rs424,674 per tola, up roughly Rs574 from Friday’s close. The move was modest compared with what happened overnight in the international market, where gold jumped from about $4,066 an ounce late last week to roughly $4,118 an ounce by Monday morning, a gain of more than $50, or about 1.3 percent, according to Pakgold.net and data site Trading Economics.
That gap between a sharp international rally and a much smaller uptick in local tola rates suggests Pakistan’s sarafa market had not fully caught up to the new international level by the time Monday’s rates were confirmed early in the morning — a lag that has shown up on and off over the past week, as PakDaily’s Sunday rate update also noted. Underlining the uneven catch-up, Business Recorder and Daily Pakistan’s APGJSA-sourced reports were still citing a flat Rs429,136 per tola figure dating back to Friday as of Monday morning, with no fresh number yet reflected in their coverage.
International gold’s latest push higher extends a rally that first took hold after the Democratic Party’s gains in last week’s US midterm elections, which weakened the US dollar and pulled down Treasury yields on expectations of lighter government borrowing, per market commentary carried by Trading Economics. That rally had cooled over the weekend after a stronger-than-expected US October jobs report — non-farm payrolls near 165,000 against forecasts of roughly 65,000, with unemployment at 4.1 percent — firmed up the dollar and trimmed bets on further Federal Reserve rate cuts, dragging the international price back into the $4,050-$4,070 range. Monday’s bounce suggests some of that bullish momentum is creeping back, with traders now watching fresh US economic data and the dollar’s next move for direction.
| Metal / Karat | Price per Tola | Price per 10 Grams |
|---|---|---|
| 24K Gold | Rs424,674 | Rs364,090 |
| 22K Gold | Rs389,284 | Rs333,749 |
| 21K Gold | Rs371,590 | Rs318,578 |
| 18K Gold | Rs318,506 | Rs273,067 |
| Silver | Rs5,765 | Rs4,944 |
| International Gold (per ounce, USD) | $4,118 | — |
The 22K, 21K and 18K figures above are derived from the 24K rate using standard purity ratios, as Monday’s sarafa trackers reported only the 24K benchmark directly. Silver also firmed alongside gold, with Pakgold.net quoting the local rate at Rs5,765 per tola while the international silver price stood at roughly $53 an ounce — both up slightly from Friday’s levels.
