KARACHI:

Gold prices recorded sharp gains in both international and local markets on Thursday, rising for the second consecutive day. In the international bullion market, the price of gold rose by $113 per ounce to $4,268 per ounce.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local price of gold per tola climbed by Rs11,300 to Rs449,236, while the price of 10 grams of gold increased by Rs9,688 to Rs385,147.

Meanwhile, silver prices also moved higher in the local market. The price of silver per tola rose by Rs35 to Rs6,659, while the price of 10 grams of silver increased by Rs30 to Rs5,709.

On Wednesday, gold prices recorded a surge in Pakistan. According to the APGJSA, the price of 24-karat gold jumped Rs10,000 per tola to Rs437,936. The price of 10-gram gold rose Rs8,573 to Rs375,459, mirroring gains in the international bullion market.

Read: Gold prices soar as global market rallies

On Tuesday, gold prices declined in the local market even as international rates recovered. According to rates issued by the APGJSA, the price of gold per tola fell Rs500 to Rs427,936. The 10-gram rate dropped Rs428 to Rs366,886.

Silver moved in the opposite direction locally. Its price increased Rs60 to Rs6,351 per tola.

On Monday, gold prices rose in the Pakistani market even as international rates edged lower. According to the APGJSA, in the local market, the per-tola gold reached Rs428,436 after gaining Rs1,700 during the day.