Gold prices climbed further in Pakistan on Monday, extending their rally for a fifth consecutive session as rates also advanced in the international bullion market.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by Rs800 per tola to Rs457,336, compared with Rs456,536 in the previous session.
The price of 24-karat gold per 10 grams rose by Rs685 to Rs392,091, up from Rs391,406 a day earlier.
In the international market, gold gained $8 to $4,349 per ounce, compared with $4,341 in the previous session.
Silver prices also moved higher, with the local rate increasing by Rs77 to Rs6,903 per tola, from Rs6,826 previously.
The gains come amid continued uncertainty surrounding the Strait of Hormuz, a critical route for global energy supplies. Iran has said it is approaching a final agreement with Oman over new shipping lanes through the waterway but maintains that other conditions must be met before it is reopened.
Tehran has demanded measures including compensation, an end to sanctions and an end to military threats from the United States.
The Strait of Hormuz, which handled around one-fifth of global oil and liquefied natural gas flows before the conflict, has been effectively blocked since the US-Israeli attacks on Iran began on February 28, contributing to higher energy prices and broader inflationary pressures.