Despite a decline in gold rates in the international market, the price of the 24-carat glittering metal in Pakistan increased by Rs500 per tola on Friday and it reached Rs118,000, reported 24NewsHD TV channel.

According to the Sindh Jewellers Association, the price of 10-gram gold was Rs101,166 after a surge of Rs429. The price of 22-carat gold was Rs92,735 per 10 grams.

According to the association, the gold price in the international market dropped to 1,933 dollars after a drop of two bucks.

In the early Friday trading, the gold price surged by Rs2,000 and was traded at Rs118,500 per tola.