Gold prices continue upward

Web Desk: Gold and silver prices extended their upward trend in both international and local markets on Wednesday, reflecting continued strength in global bullion demand.

In the international bullion market, the price of gold rose by $35 per ounce to reach $4,811, marking a further increase during the week.

Following the global trend, local bullion markets also recorded gains. The price of 24-carat gold per tola increased by Rs3,500, settling at Rs503,462. Likewise, the price of 10 grams of gold rose by Rs3,001 to Rs431,637.

Silver prices also moved higher. In local markets, the per tola rate climbed by Rs144 to Rs8,404, while the price of 10 grams increased by Rs124 to Rs7,205.

Spot gold was down 0.6% at $4,811.19 per ​ounce, as of 0731 GMT, after hitting its highest since March 18 earlier. ​US gold futures for June delivery fell 0.3% to $4,834.40.

Among other metals, spot silver fell 0.3% to $79.31 per ounce, platinum gained 0.1% to $2,105.21, and palladium was steady ​at $1,586.63.

This rise came after a brief decline in gold prices observed in both global and domestic markets earlier in the week, indicating renewed momentum in the bullion trade.