Gold prices recorded a sharp increase in Pakistan on Friday, following a strong upward trend in international bullion markets.
The local gold market witnessed a significant jump as the price of one tola of gold climbed by Rs12,200 during the day. Consequently, the new per tola rate reached Rs440,936.
Likewise, the price of 10 grams of gold also moved higher. After gaining Rs10,459, it reached Rs378,031 in the local market.
The increase reflects the continued movement in global gold prices, which directly influences domestic bullion rates.
International Gold Prices Climb Sharply
The global gold market also posted notable gains on Friday. The international price of gold increased by $122 per ounce. As a result, the precious metal reached $4,185 per ounce, including a premium of $20.
The strong international performance contributed directly to the latest increase in Pakistan’s gold prices.
Since Pakistan’s bullion market follows global price movements, changes in international rates often affect local prices on the same day.
Local Gold Market Continues Upward Trend
The latest increase comes just one day after another strong rally in the domestic market.
On Thursday, the price of one tola of gold rose by Rs9,100. Following that increase, the per tola rate had reached Rs428,736.
However, Friday’s jump proved even larger, adding another Rs12,200 within a single trading session.
As a result, gold prices have continued their upward momentum over consecutive trading days.
Silver Prices Also Register Significant Increase
Meanwhile, silver prices also moved higher in the local bullion market.
The price of one tola of silver increased by Rs319. Following the latest rise, silver reached Rs6,764 per tola. The increase in silver prices accompanied the broader gains seen across precious metals.
Rising Global Prices Drive Domestic Market
Pakistan’s gold market remains closely linked to international bullion prices. Therefore, fluctuations in global rates usually translate into similar movements in local markets.
Friday’s sharp increase followed a strong rally in the international market, leading domestic prices to reach new highs.
Consequently, buyers and traders continue monitoring global developments, as international trends remain the primary driver of local gold prices.
With both gold and silver recording notable gains, the precious metals market ended the week on a strong note. Investors and consumers will now watch upcoming international price movements to see whether the current upward trend continues in the coming days.
