Gold, silver prices rise again in local and international markets

Gold and silver prices recorded another increase on Saturday in both international and local markets after declining on Friday, following a three-day upward trend in global and domestic markets. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), in the international bullion market, the price of gold rose by $45 per ounce to reach $4,837. In the local market, the price of gold per tola increased by Rs4,500 to Rs506,062, while the rate for 10 grams rose by Rs3,858 to Rs433,866. Silver prices also moved higher, with the per tola rate increasing by Rs118 to Rs8,562. Similarly, the price of silver per 10 grams rose by Rs101 to Rs7,340. Read: Gold falls Rs3,300/tola in local market On Friday, gold prices in Pakistan fell, tracking a divergence from the international market where bullion extended gains on the back of a weaker dollar and easing geopolitical risks after signals of a potential Iran deal. In the local market, the price of gold per tola dropped by Rs3,300 to settle at Rs501,562. Similarly, 10-gram gold declined by Rs2,829 to Rs430,008, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association. The decline came a day after gold surged to Rs504,862 per tola on Thursday, reflecting volatility in domestic pricing amid shifting global cues and currency dynamics. Meanwhile, silver prices also fell by Rs70 to Rs8,444 per tola. In contrast, the international market maintained upward momentum. Spot gold rose 1.5% to $4,860.39 per ounce during early US trading hours and was up more than 2% for the week, according to Reuters. US gold futures also climbed 1.6% to $4,883.20 per ounce. Adnan Agar, Director at Interactive Commodities, noted that gold had regained upward traction amid improving geopolitical clarity. He said the metal was currently hovering near key resistance levels, with $4,890 acting as a crucial hurdle. "If gold closes above $4,890, it could target $5,000 and even $5,200 in the coming sessions," he said, adding that the easing of tensions surrounding Iran had reduced downside risks and may support a gradual upward trend unless fresh geopolitical triggers emerge. Agar projected that gold could potentially extend gains towards $5,200-$5,400 before entering a consolidation phase.