Gold, silver prices rise on global gains

Gold prices in Pakistan rose on Monday, tracking gains in the international market, where spot gold hovered near a seven-week high, supported by a softer dollar and expectations of US interest rate cuts ahead of key economic data. In the domestic market, gold per tola surged to Rs454,862, gaining Rs2,600 during the day. Similarly, 10-gram gold was sold at Rs389,970, up Rs2,229, according to the All-Pakistan Gems and Jewellers Sarafa Association. On Saturday, the gold price per tola had closed at Rs452,262 following a decline of Rs2,000. Meanwhile, silver touched a historic high, rising Rs68 to reach Rs6,532 per tola. Commenting on market trends, Adnan Agar, Director at Interactive Commodities, said that the gold market was not showing significant movement on Monday, trading between $4,300 and $4,350, with the rate later standing at $4,322.