Gold prices in Pakistan witnessed a significant increase on Thursday, tracking gains in the international market where bullion climbed back above the $5,000 per ounce level.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs 7,900 during the day, reaching Rs 523,962 in the local market. Similarly, the price of 10-gram gold increased by Rs 6,773 to settle at Rs 449,212.

A day earlier, gold per tola had closed at Rs 516,062 after gaining Rs 1,300, indicating continued upward momentum in domestic bullion markets.

Globally, gold prices surged by $79 to reach $5,012 per ounce, including a premium of $20. Analysts attribute the rally to strong investor demand, global economic uncertainty, and currency fluctuations, which continue to drive safe-haven buying.

Meanwhile, silver prices also moved higher in Pakistan. The price of silver per tola increased by Rs 358 to settle at Rs 8,404.

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Market observers say local gold rates remain closely linked to international price trends and exchange rate movements. With global markets showing volatility, further fluctuations in precious metal prices cannot be ruled out in the coming days.

Investors and traders are closely monitoring global economic indicators that could influence the next direction of bullion prices.