Gold rates increased in the local and international markets on Friday. In Pakistan, gold price per tola stood at Rs250,700 after a single-day gain of Rs500.

The 10-gram gold was sold at Rs214,935 after an addition of Rs429, according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Thursday, gold price per tola stood at Rs250,200.

The safe-haven asset has seen a record surge this month due to geo-political tensions in the Middle East and central banks adding to their gold reserves.

The international rate of gold increased on Friday, as per APGJSA. The rate was set at $2,400 per ounce (with a premium of $20) after a gain of $5 during the day.

Meanwhile, silver rates remained stable at Rs2,780 per tola.