KARACHI: Gold prices in Pakistan increased by Rs2,800 per tola on Friday, while silver rates also recorded a rise, according to market data.
The price of gold rose to Rs440,636 per tola, while the price of 10 grams increased by Rs2,401 to Rs377,774.
In the international market, gold prices increased by $28 per ounce to $4,181.
Silver prices in Pakistan also climbed by Rs108 per tola, taking the rate to Rs6,256.
Gold is traditionally considered a safe-haven investment, with demand often increasing during periods of inflation and political or economic uncertainty. Investors frequently turn to the precious metal when confidence in other assets weakens.
Pakistan has also revised its gold price-setting mechanism, under which domestic rates are set at a premium of $20 per ounce over international market prices.
Earlier, Gold prices in Pakistan fell by Rs3,000 per tola on Wednesday, according to the All Pakistan Gems and Jewellers Association.
The price of gold dropped to Rs437,836 per tola following the decline. Similarly, the price of 10 grams of gold decreased by Rs2,572 to Rs375,373, the association said.
Silver prices also declined in the local market, with the price per tola falling by Rs172 to Rs6,360. Similarly, the price of 10 grams of silver decreased by Rs148 to Rs5,452.
In the international market, gold prices fell by $30 to $4,153 per ounce.
