Gold, silver prices surge in global and local markets

Bullion rates climbed further, according to The Express Tribune, with gains recorded on overseas exchanges and inside Pakistan. Gold rose $30 to about $5,138 an ounce internationally. Spot gold traded 0.6 per cent higher at $5,136.22 by 0729 GMT, after reaching its strongest level since January 30 earlier in the session.

US futures for April delivery advanced 1.5 per cent to $5,157.50. Silver also gained, with spot prices up 1.2 per cent at $85.57 an ounce, a peak not seen in more than two weeks. Locally, gold per tola went up Rs3,000 to Rs534,562, while the 10-gram figure rose Rs2,572 to Rs460,015.

Domestic silver followed the same direction: a tola rose Rs146 to Rs9,094 and 10 grams climbed Rs125 to Rs7,796. The report describes these moves as part of an ongoing upward trend.