Gold prices in Pakistan rose sharply on Monday, tracking international market gains and reversing a decline seen over the weekend.
The upward move reflects renewed momentum in gold demand, supported by global sentiment, inflation hedging, and investor interest amid uncertainty in other asset classes.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola increased by Rs1,500 to Rs357,700. The price of 10 grams of 24-karat gold gained Rs1,286 to Rs306,670. For 22-karat gold, 10 grams rose by Rs1,179 to Rs281,124.
International market trends remain the key driver of gold prices, outweighing minor changes in the rupee.
Globally, gold prices rose by $15 to $3,350 per ounce. The increase strengthened bullish sentiment in local markets, as domestic rates are based on world prices and the exchange rate. Despite slight rupee appreciation, local investors continued to turn to gold as a safe haven; a move that appears to be linked to geopolitical concerns, inflationary pressures, and expectations of future currency weakness.
Silver, however, showed no change. Locally, the price of silver per tola stayed at Rs4,031, while 10 grams stood at Rs3,455. In the international market, silver held steady at $37.98 per ounce.
The Pakistani rupee appreciated 0.01% against the US dollar on Monday. The inter-bank closing rate was Rs282.02 per dollar, compared to Rs282.06 on Friday, the State Bank of Pakistan (SBP) reported. Though minimal, this appreciation indicates some currency stability, which partly cushioned the impact of rising global gold prices on local rates.
SBP to launch new payment system
Meanwhile, the SBP will launch its upgraded payment and settlement system, PRISM+, today, August 19. Governor Jameel Ahmad will lead the ceremony, joined by senior SBP officials, financial institutions, and stakeholders.
PRISM+, based on the ISO 20022 global messaging standard, marks a major step in modernising Pakistan's financial system. It has two key components: a faster Real-Time Gross Settlement (RTGS) for large payments, and a new Central Securities Depository (CSD) for government securities such as T-Bills and Pakistan Investment Bonds.
According to a statement from the central bank, the system offers real-time transfers, payment scheduling, priority-based settlements, live dashboards, and automatic invoicing. It also strengthens transparency and security, ensuring every transaction has a full audit trail, role-based access, and real-time alerts for settlement issues.
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