In a major development that shook bullion traders, the All Pakistan Sarafa Gems and Jewelers Association reported a sharp rise in gold prices on Friday. The 24 karat gold per tola surged by Rs3,500, closing at Rs351,000, up from Rs347,500 just a day earlier.

The price hike wasn’t limited to tola alone. The cost of 10 grams of 24 karat gold jumped by Rs3,000, now standing at Rs300,925. Likewise, the 10 grams of 22 karat gold increased by Rs2,750 to Rs275,857, making gold even less accessible for middle-class buyers.

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Silver followed the same trend. Per tola silver rose by Rs38 to reach Rs3,466, while 10 grams of silver saw an increase of Rs33, bringing the rate up to Rs2,971.

The international market also reflected a bullish trend. Gold prices rose by $35, reaching $3,326 per ounce. Silver gained $0.38, closing at $32.08, according to the Association.

The sudden jump in precious metal prices — both locally and globally — suggests heightened investor interest, possibly driven by inflation fears, currency pressure, or geopolitical instability. The consistent upward movement across gold and silver hints at a shift in asset preference, with people moving toward safe-haven investments. For buyers and investors in Pakistan, this could mean higher returns — or further hurdles depending on future economic trends.