Gold prices recorded a fresh increase in both local and international markets on Friday, reversing the decline witnessed a day earlier and signaling continued volatility in precious metal markets.
In this regard, as per the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola increased by Rs1,100, reaching Rs433,536 in the local market.
Similarly, the price of 10 grams of gold rose by Rs943 to settle at Rs371,687.
The upward trend was also observed in silver prices. The price of silver per tola increased by Rs30, reaching Rs6,462, while the rate for 10 grams of silver climbed by Rs26 to stand at Rs5,540.
On the international front, gold prices also moved higher. The price of gold in the global market increased by $11 per ounce, bringing the international rate to $4,111 per ounce. The rise followed a decline recorded a day earlier when global gold prices had fallen by $14 per ounce to $4,100.
The local market had also experienced a downward trend during the previous trading session. Gold prices had dropped by Rs1,400 per tola, bringing the rate down to Rs432,436.
In this sense, the price of 10 grams of gold had decreased by Rs1,200 to Rs370,744.
So far, the silver prices had shown a mixed trend during the previous session. On the other hand, gold recorded losses, silver per tola had increased by Rs11, reaching Rs6,432.
They advised investors and consumers to closely monitor developments in international markets before making major purchasing decisions.
