Gold prices in Pakistan surged sharply on Friday, with the rate per tola increasing by Rs. 5,300 to reach Rs424,162, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Similarly, the price of 10 grams of gold rose by Rs4,544, bringing it to Rs363,650. A day earlier, gold had closed at Rs418,862 per tola after dropping by Rs1,000.
In the international market, gold also gained momentum, rising by $53 to reach $4,018 per ounce (including a $20 premium), as reported by APGJSA.
Silver prices followed the trend, climbing by Rs158 per tola to settle at Rs5,192.
However, by Friday, global gold prices had slightly dipped as the US dollar strengthened amid uncertainty over potential Federal Reserve rate cuts. Despite this minor fall, gold remained on track for its third straight monthly gain.
Spot gold was trading at $4,004 per ounce, down 0.5%, while US gold futures for December delivery were steady at $4,016.70 per ounce, with bullion showing an overall 3.9% increase for the month.