Gold prices continued to rise on Saturday, rising in both international and domestic markets, further pushing the precious metal beyond the reach of ordinary consumers.
In the international gold market, spot gold rose 0.4% to USD 4,347.07 per ounce from 02:17 ET (19:17 GMT), with a weekly gain of 1.1%. Meanwhile, U.S. gold futures were 0.5% higher at $4,387.3 a barrel. ounces.
Earlier, benchmark gold prices had risen $13 to reach $4,338 per ounce. ounces.
Read: Gold prices are constantly rising, further increases today
Following the global upward trend, gold prices in the local market also registered an increase. The price of gold per tola rose by Rs 1,300. to Rs.456,162, while the price of 10 grams increased by Rs.1,115. to Rs.391,085.
Silver prices also rose sharply during the session. Spot silver jumped 2.6% to $67.14 per ounce, ending the week up 8.4% after hitting a record high of $67.45 earlier in the day.
Analysts say the sustained rise in precious metals reflects strong investor demand amid global economic uncertainty and expectations of continued monetary policy easing by major central banks.
