Gold price jumps by Rs5,700 per tola

Gold prices continued their upward run in Pakistan on Saturday, rising for the third straight session in line with gains in the international bullion market.

According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold increased by Rs5,700 per tola to reach Rs482,936. The rate for 10 grams of gold also climbed by Rs4,972, bringing it to Rs414,039.

In the global market, gold rose by $57 per ounce and was quoted at $4,604.

Silver prices, however, remained unchanged in the local market. The price of silver stood at Rs7,379 per tola, while 10 grams of silver were available at Rs6,326.

The latest increase follows a sharp rise a day earlier, when gold gained Rs5,200 per tola to settle at Rs477,136. The rate for 10 grams had also gone up by Rs4,458 to Rs409,067 on Friday. Silver had also posted gains that day, rising by Rs210 per tola and Rs180 per 10 grams.

Gold had also surged on Thursday, when the per-tola rate increased by Rs13,700 to Rs471,936, while 10 grams rose by Rs11,746 to Rs404,609. Silver also moved upward that day, with its per-tola price reaching Rs7,169.

Earlier in the week, local gold prices had shown mixed movement. On Wednesday, gold fell by Rs3,700 per tola to Rs458,236 despite a rise in international rates. On Tuesday, prices remained stable at Rs461,936 per tola, while on Monday, gold had gained Rs2,000 per tola to reach the same level.