Gold prices recorded a sharp increase in both international and local markets on Friday, with the international bullion market seeing a rise of $122 per ounce to $4,185, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Locally, the price of gold per tola increased by Rs12,200 to Rs440,936, while the price of 10 grams rose by Rs10,459 to Rs378,031. Silver also gained, with per tola prices up Rs319 to Rs6,764 and 10 grams rising Rs274 to Rs5,799.
Previous Day's Gains
On Thursday, gold prices had already risen in global and local markets after five trading sessions, reaching a new high in the international bullion market. The international price per ounce increased by $91 to $4,063. Locally, per tola gold rose by Rs9,100 to Rs428,736, and per 10 grams increased by Rs7,802 to Rs367,572. Silver prices also recorded gains, with per tola up Rs203 to Rs6,445 and per 10 grams up Rs174 to Rs5,525.
Earlier Declines Mid-Week
On Wednesday, gold and silver prices fell in both international and domestic markets. The global gold price declined by $52 to $3,972 per ounce. In the domestic market, per tola gold declined by Rs5,200 to Rs419,636, and per 10 grams fell by Rs4,458 to Rs359,770. Silver per tola dropped by Rs107 to Rs6,242, and per 10 grams declined by Rs92 to Rs5,351.
Tuesday's Mixed Trends
On Tuesday, gold prices declined while silver prices increased. International gold fell by $41 per ounce to $4,024. Locally, per tola gold declined by Rs4,100 to Rs424,836, and per 10 grams decreased by Rs3,515 to Rs364,228. Meanwhile, silver per tola increased by Rs25 to Rs6,349, and per 10 grams rose by Rs22 to Rs5,443.
Monday's Decline Amid US-Iran Tensions
On Monday, gold prices declined locally, tracking international losses as fresh US-Iran tensions boosted oil prices and stoked inflation fears, raising expectations of higher interest rates. Per tola gold stood at Rs428,936 after a drop of Rs2,300, according to APGJSA rates. Similarly, 10-gram gold was sold for Rs367,743 after falling by Rs1,972. Silver decreased by Rs69 to Rs6,324 per tola.
Saturday's Previous Close
On Saturday, per tola gold had closed at Rs431,236 following a decline of Rs1,000.
