KARACHI: Gold prices in Pakistan extended gains on Monday amid the depreciation of the Pakistani rupee and the ongoing geopolitical crisis.
Prices of the precious commodity rose by Rs 600 per tola and Rs 515 per 10 grams to close at Rs 130,000 and Rs 111,454 respectively.
During this time of uncertainty, bullion is considered a safe store of value and a hedge against rising inflation. Gold gained Rs 1,450/tola in the local market in the week ended March 5.
In international markets, gold tested the psychological $2,000 mark in response to demand for safe-haven assets.
Gold gained $17 an ounce to settle at $1,991.