Gold reaches Rs477,136 per tola as international bullion prices climb $52 an ounce.

KARACHI: Gold prices in Pakistan extended their upward trend on Friday, with the price of 24-karat gold rising by Rs5,200 per tola, taking the total gain over the past two sessions to Rs18,900 amid a strong rally in international bullion markets.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased to Rs477,136 per tola, up from Rs471,936 recorded at the previous close.

The latest increase marks the second consecutive daily rise in domestic gold prices. Gold had surged by Rs13,700 per tola on Thursday.

Gold price rises in 10-gramme rate

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

The rate rose by Rs4,458 to Rs409,067 per 10 grammes, compared with Rs404,609 at the previous close.

The two-day rally has pushed domestic gold prices significantly higher, reflecting the continued strength of the international bullion market.

International gold prices climb

Bullion market experts attributed the increase in domestic gold prices to gains in international markets.

They said lower global oil prices, persistent inflation and weak US economic data had supported investor demand for gold as a safe-haven asset.

In the international market, gold prices rose by $52 per ounce, reaching $4,547, compared with the previous day’s closing price of $4,495.

The rise in global bullion prices was reflected in Pakistan’s domestic market, contributing to the sharp increase in gold rates.

Two-day gold gain reaches Rs18,900

With Friday’s increase, gold has gained Rs18,900 per tola over two consecutive trading sessions.

The latest rally highlights renewed upward momentum in Pakistan’s bullion market as international gold prices continue to influence domestic rates.