The All Pakistan Sarafa Gems and Jewellers Association reported a sharp rise in gold prices during Thursday’s trading. The price of 24 karat gold increased by Rs2,200 per tola and closed at Rs455,762 compared to Rs453,562 a day earlier.

Gold prices also moved up in the gram category. The price of 10 grams of 24 karat gold rose by Rs1,800 to Rs390,742. Meanwhile, 10 grams of 22 karat gold became costlier by Rs1,275 and was sold at Rs357,919.

Silver prices followed the same upward trend in the local market. Per tola silver gained Rs78 and reached Rs6,900, while 10 grams of 24 karat silver increased by Rs67 to Rs5,915.

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International bullion markets also showed strength. Gold prices rose by $22 to $4,334 per ounce, while silver gained $0.78 and was traded at $66.28 per ounce, adding pressure on domestic rates.

Gold prices are rising because global rates are moving up fast. Local buyers are also active, which adds pressure on prices. If international markets stay strong, gold and silver may remain expensive in the coming days.