Gold prices rose both locally and internationally on Friday. In Pakistan, the price per tola of gold reached Rs250,700 after increasing by Rs500 in a single day.

According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold was Rs214,935 after a rise of Rs429. This is compared to the gold price of Rs250,200 per tola on Thursday.

The increase in gold prices is attributed to geopolitical tensions in the Middle East and central banks buying more gold, making it a popular safe-haven asset.

Internationally, the gold rate, as reported by APGJSA, was set at $2,400 per ounce with a $20 premium, marking a $5 increase during the day.

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