Gold prices in Pakistan rose on Thursday in line with their increase in the international rates. In the local market, the price of gold per tola was up by Rs3,700, clocking in at Rs278,000.

Similarly, 10-gram gold was sold at Rs238,340 after it recorded an increase of Rs3,172, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

On Wednesday, gold price per tola increased by Rs800 to settle at Rs274,300.

The international rate of gold increased on Thursday. As per APGJSA, the rate was $2,668 per ounce (with a premium of $20) and was up by $37 during the day.

Silver prices also gained Rs200 to settle at Rs3,450 per tola.

Last month, gold hit an all-time high of Rs287,900 per tola in Pakistan.

Internationally, gold prices rose for a fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while investors awaited remarks from US Federal Reserve policymakers on the interest rate outlook.