Gold price in Pakistan rises Rs5,200 per tola

Gold prices in Pakistan rose on Friday, with 24-karat gold selling at Rs477,136 per tola, up Rs5,200, according to the All-Pakistan Gems and Jewelers Sarafa Association. The same metal was priced at Rs409,067 per 10 grams after a gain of Rs4,458, while 22-karat gold was quoted higher at Rs374,991 per 10 grams. Mettis Link News reported the day's rates.

Local silver prices also firmed, with 24-karat silver priced at Rs7,379 per tola after a rise of Rs210 and at Rs6,326 per 10 grams after a rise of Rs180. Both quotations were higher than the previous session's levels.

Globally, spot gold traded near $4,565 an ounce, up $38.7 or 0.85 per cent from the previous session. The report linked the gain to a weaker dollar and a decision by the U.S. Treasury to enlarge its bond repurchase scheme.