KARACHI: The upward trend in gold and silver prices continued in both international and local markets on Friday.
According to the international bullion market, the price of gold rose by $30 per ounce to reach $4,080 per ounce today. Following the global increase, local sarafa markets also saw a sharp rise. The price of 24-karat gold per tola increased by Rs. 3,000 to reach Rs. 430,436. Similarly, the price of 10 grams of gold went up by Rs. 2,572 to settle at Rs. 369,029.
In the international market, the price of silver decreased by 79 cents per ounce to $58.15 per ounce. However, in local Pakistani markets, silver prices moved in the opposite direction. The price of silver per tola increased by Rs. 79 to Rs. 6,294.
The price of 10 grams of silver also rose by Rs. 68 to reach Rs. 5,396. Market analysts attribute the rise in local gold prices to the strong rally in global bullion, while the increase in local silver rates despite a dip internationally is being linked to exchange rate fluctuations and domestic demand. The record levels have kept both investors and jewellery buyers cautious as prices continue to test new highs.
Read also: Gold prices further drop in Pakistan,check latest rates here
