KARACHI: Gold prices rose for the third consecutive day in both international and local markets on Friday, with the price of the precious metal gaining sharply amid continued strength in the global bullion market.
In the international bullion market, gold prices increased by $51 per ounce to $4,319.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold in Pakistan rose by Rs5,100 per tola to Rs454,336. The price of 10 grams of gold also increased by Rs4,372 to Rs389,519.
Silver prices also recorded gains in the local market. The price of silver increased by Rs280 per tola to Rs6,939, while the price of 10 grams rose by Rs240 to Rs5,949.
Gold had also gained significantly on Thursday, when the local price per tola climbed by Rs11,300 to Rs449,236. The price of 10 grams increased by Rs9,688 to Rs385,147.
Silver also moved higher on Thursday, with its per-tola price rising by Rs35 to Rs6,659, while the price of 10 grams increased by Rs30 to Rs5,709.
On Wednesday, gold prices surged by Rs10,000 per tola to Rs437,936 in the local market, while the price of 10 grams rose by Rs8,573 to Rs375,459, tracking gains in international bullion prices.
The precious metal had declined on Tuesday, with the local per-tola price falling by Rs500 to Rs427,936 and the 10-gram rate dropping by Rs428 to Rs366,886.
Silver, however, moved higher on Tuesday, gaining Rs60 per tola to reach Rs6,351.
On Monday, gold prices in Pakistan had increased by Rs1,700 per tola to Rs428,436 despite a slight decline in international gold prices.
