Gold prices in Pakistan rose on Friday in line with their increase in the international rates. In the local market, the price of gold per tola was up by Rs2,500 to clock in at Rs280,500.

Similarly, 10-gram gold was sold at Rs240,483 after it recorded an increase of Rs2,143, according to rates shared by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

On Thursday, gold price per tola increased by Rs3,700 to settle at Rs278,000.

The international rate of gold increased on Friday. As per APGJSA, the rate was $2,693 per ounce (with a premium of $20) and was up by $25 during the day.

Silver prices remained stable at Rs3,450 per tola.

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

Internationally, gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for US interest rate cuts.

Spot gold rose 0.7% to $2,688.70 per ounce as of 0306 GMT.

Bullion was up nearly 5% for the week so far, its best week since early October 2023.