Gold hits Rs357,000 per tola as international rates climb

Gold prices in Pakistan rose sharply on Friday, tracking gains in the international market, reported 24NewsHD TV channel.  

The precious metal surged by Rs2,300 per tola, reaching Rs357,000 in the local market, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10-gram gold increased by Rs1,971, settling at Rs306,069.

This follows a Rs3,200 per tola rise on Thursday, when gold closed at Rs354,700.

The international market mirrored this upward trend, with gold prices rising by $21 per ounce to reach $3,345 (including a $20 premium).

In related developments, silver prices also saw an uptick, rising by Rs86 per tola to Rs3,937.

The persistent increase in gold rates is attributed to global economic fluctuations, currency movements, and investor demand for safe-haven assets.

Market analysts suggested that prices may continue to fluctuate in response to international trends.