Gold on Thursday was closed at Rs87250 per tola with Rs150 increase on the local market, according to traders. The yellow metal was traded for $1503 an ounce with $1 increase on the world market that drove its prices to Rs74803 per 10 grams by Rs120 up. Silver remained steady at Rs1100 per tola and Rs943 per 10 grams while it was traded for $17.88 an ounce internationally, traders added.