Gold prices increased sharply in Pakistan on Friday, following another rise in international bullion rates.

The price climbed by Rs2,000 per tola in the domestic market. After the latest increase, the per-tola rate reached a record Rs440,636.

The price of 10 grams also recorded a significant increase during the day. It rose by Rs1,715 to reach Rs377,774.

The latest movement came as international bullion prices continued to strengthen.

International Gold Price Hits Record Level

In the international market, Gold gained $20 per ounce on Friday. The increase pushed the international rate to a record $4,181 per ounce.

Changes in global bullion prices often influence domestic rates in Pakistan. Local prices can also be affected by currency movements and other market factors.

The latest increase means buyers will face higher prices for jewellery and bullion in the domestic market.

Investors also closely monitor precious metals during periods of global economic and geopolitical uncertainty.

Silver Prices Also Increase

Silver prices followed the upward movement in precious metals.

The price of silver increased by Rs50 per tola in Pakistan. Following the increase, silver reached Rs6,578 per tola.

The rise came alongside higher Gold prices in both domestic and international markets.

Pakistan Stock Market Extends Decline

Meanwhile, the Pakistan Stock Exchange remained under pressure during Friday’s trading session.The benchmark KSE-100 Index extended its decline during the first half of trading.

At 11:52am, the index stood at 167,817.38 points. This represented a decline of 819.47 points, or 0.49%.

Investor sentiment remained cautious amid reports concerning additional US military deployments to the Middle East.

Selling pressure was recorded across several major sectors.

These included automobile assemblers, cement companies, commercial banks and oil and gas exploration firms. Oil marketing companies and power generation businesses also faced selling pressure.

Several major index-heavy stocks were trading in negative territory. These included ARL, HUBCO, PSO, SSGC, HBL, NBP and UBL.

The movements in precious metals and equities reflected different investor responses during Friday’s session.

In other news read more about: Gold Price in Pakistan Drops to Rs.4.48 Lakh Per Tola

While bullion prices moved higher, the benchmark stock index remained under pressure during early trading.