Domestic gold prices continued their sharp upward trend, with the latest increase tracking a significant rise in international bullion rates.

KARACHI: Gold prices in Pakistan surged by Rs24,600 during a three-day rally, with bullion rates rising another Rs5,700 in the latest session.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased to Rs482,936 per tola, compared with Rs477,136 at the previous close.

The latest increase comes as gold continues to attract strong buying interest amid rising international bullion prices.

Gold price per 10 grams

The price of 24-karat gold also increased in the 10-gramme category.

The rate rose by Rs4,972 to Rs414,039 per 10 grammes, compared with Rs409,067 recorded in the previous session.

The rise in domestic gold prices was in line with gains in the international bullion market, where gold prices continued to strengthen.

International gold prices rise

In the international market, gold prices increased by $57 per ounce, reaching $4,604 per ounce from the previous closing price of $4,547.

The sharp rise in international bullion prices provided further upward momentum to gold rates in Pakistan, with the local market reflecting the latest global gains.

The three-day rally has pushed domestic gold prices significantly higher, adding to the recent volatility in the precious metals market.