KARACHI: Gold prices in the domestic market rose on Friday, extending a volatile week marked by sharp swings in bullion and energy markets amid geopolitical tensions.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased by Rs.3,400 to Rs.490,362 per tola. The 10-gram rate climbed Rs.2,915 to Rs.420,406, while 22-karat gold was quoted at Rs.385,386 per 10 grams, up Rs.2,673.
Silver also firmed, with the 24-karat tola rate gaining Rs.160 to Rs.7,794 and the 10-gram price rising Rs.138 to Rs.6,682.
Internationally, spot gold edged higher to $4,676 per ounce, up $34 from the previous session, while silver advanced to $73.10 per ounce.
The modest rebound followed a pullback earlier in the week, when bullion slipped after U.S. President Donald Trump vowed “extremely hard” strikes against Iran, prompting investors to shift into oil and energy assets.
It may be mentioned here that this week has seen bullion prices oscillate between safe-haven demand and profit-taking. On Thursday, gold fell sharply in both global and local markets, but Friday’s uptick suggests investors are recalibrating positions ahead of the weekend.
Analysts note that the surge in oil prices — Brent crude touched $106 per barrel — continues to weigh on sentiment, with traders balancing inflation hedges against geopolitical risk.
Also, local jewellers said the rupee’s exchange rate movements also influenced domestic bullion prices, amplifying the volatility seen in international markets.
