Gold and silver prices rose on Friday in both local and international markets, reversing a recent decline. The price of gold increased by Rs3,400 per tola to reach Rs490,362. Meanwhile, 10 grams of gold gained Rs2,915, settling at Rs420,406.
In the international market, gold climbed by $34 per ounce to $4,676, reflecting renewed buying interest. Silver also saw gains locally, rising Rs160 per tola to Rs7,794 and Rs138 per 10 grams to Rs6,682. Globally, silver was priced at $73.10 per ounce.
Read more: Gold prices drop sharply across Pakistan
The increase comes after a sharp drop in gold prices on Thursday, driven by a stronger US dollar and rising oil prices. On that day, local gold per tola fell Rs7,100 to Rs486,962, while 10 grams dropped Rs6,087 to Rs417,491.
Internationally, gold prices fell $71 to $4,642 per ounce following market concerns over US interest rate expectations. Market sentiment was affected by global developments, including US military actions against Iran and rising oil prices. Silver also dropped nearly 4% in line with international trends.
Read more: Global gold prices tumbled sharply
Analysts say the rebound in local bullion reflects both global price movements and domestic demand recovery. Investors are closely watching geopolitical developments and currency trends, which continue to influence precious metal prices in Pakistan.