Pakistan Gold Prices Jump Rs6,900 as International Bullion Hits One-Week High

Gold prices in Pakistan surged by Rs6,900 per tola on Friday, reaching Rs460,336, as international bullion prices hit a one-week high. The increase came after gold prices had fallen by Rs3,800 per tola on Thursday.

The rise in domestic gold prices tracked gains in the international market, where spot gold rose 0.3% to $4,352.39 per ounce by 11:17 am EDT (1517 GMT), according to Reuters. The metal was up around 0.2% for the week.

Market conditions were influenced by movements in crude oil prices, with Brent crude falling for a third consecutive session and reducing some concerns about higher energy costs keeping inflation elevated. However, gains in bullion remained constrained by a stronger US dollar.