Gold prices move up in Pakistan

KARACHI: Gold prices in Pakistan experienced a notable surge on Friday in line with the global upward trend.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola increased by Rs1,800, reaching Rs276,200.

Similarly, 10-gram gold witnessed a gain of Rs1,543, selling at Rs236,797.

Today’s rebound in gold prices follows Thursday’s decline, where gold prices dropped by Rs1,100 to settle at Rs274,400.

Silver prices, however, remained stable at Rs3,050 per tola.

Internationally, gold prices traded flat on Friday but were slightly down for the week, as market focus shifted to a crucial US payrolls report for clearer insight into the Federal Reserve’s anticipated interest rate reduction next month.

Spot gold was steady at $2,657.13 per ounce. Bullion was on track for a weekly decline, after three straight weekly gains.

US gold futures fell 0.1% to $2,676.70.