Gold prices see another sharp rise

Price of 10 grams gold rises by Rs6,337

Gold prices surged in both international and local markets.

In the international bullion market, the price of gold per ounce rose by $74 to reach $4,075. Spot gold climbed 2% to $4,078.45 per ounce by 09:56 GMT, hitting its highest since October 27.

US gold futures for December delivery rose 1.9% to $4,087.10 per ounce.

Read: Gold prices dip in local market after global decline

Following the global trend, domestic prices jumped: a tola of gold increased by Rs7,400 to Rs429,862, while 10 grams of gold rose by Rs6,337 to Rs368,530.

Elsewhere, spot silver gained 3.1% to $49.79 per ounce, reaching its highest since October 21. Platinum rose 1.6% to $1,570.15, and palladium added 1.4% to $1,399.93.

Earlier on Saturday, after a two-day break, gold prices fell in both international and local bullion markets.

In the international market, the price of gold declined by $6 per ounce to $4,001. Following the global trend, local gold prices also dipped, with the price of 24-karat gold decreasing by Rs600 per tola to Rs422,462.

The price of 10 grams of gold fell by Rs514, settling at Rs362,193.

Similarly, silver prices also saw a decline. The price of silver per tola dropped by Rs18 to Rs5,094, while the price of 10 grams decreased by Rs15 to Rs4,367.