KARACHI (Web Desk) Gold prices climbed once again on Friday after four consecutive days of increases, as both global and local markets witnessed a strong upward trend.
According to market sources, gold prices had remained under pressure from Monday to Thursday this week, but the trend reversed on Friday, sending prices sharply higher. In the international bullion market, the price of gold jumped by $57 per ounce to reach $4,379.
Following the rise in global rates, local bullion markets also saw a significant increase. The price of 24-karat gold rose by Rs5,700 per tola to reach Rs460,262. Similarly, the price of 10 grams of gold increased by Rs4,887 to settle at Rs394,600.
Silver prices also moved up alongside gold. In the local market, the price of silver increased by Rs227 per tola to Rs7,862, while the price of 10 grams of silver went up by Rs195 to Rs6,740.
Market analysts said the renewed rise in prices shows that gold is once again “back in the driver’s seat,” driven by movements in the global market and renewed investor interest.