Gold prices surged in Pakistan on Saturday after a sharp rise in the international bullion market, where the yellow metal gained $53 per ounce to reach $4,218.

After a two-day pause in trading, domestic bullion markets raised the price of 24-carat gold by Rs5,300 per tola, taking it to Rs444,162. The rate for 10 grams also increased by Rs4,544 to settle at Rs380,797.

Silver prices followed the same upward trend, with the per-tola rate climbing by Rs267 to Rs5,909 and the 10-gram price rising by Rs229 to Rs5,066.

Read: https://tribune.com.pk/story/2579688/sbp-pumps-rs107tr-into-money-market

Earlier on Friday, gold prices in Pakistan held steady for the second straight day, with the per-tola rate unchanged at Rs438,862 despite a surge in global bullion markets, where prices hovered near a one-week high on expectations of a Federal Reserve rate cut next month.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold also remained unchanged at Rs376,253. Silver prices were flat as well, trading at Rs5,642 per tola.

The stability in domestic bullion rates comes even as international gold continued its upward momentum, supported by weakening US economic indicators and increasing bets on monetary easing.

Reuters reported that spot gold rose 0.8% to $4,162.99 per ounce at 1:55 pm ET (1855 GMT), after hitting its highest level since November 14 earlier in the session. US gold futures for December delivery settled 0.6% higher at $4,165.20 per ounce.

Adnan Agar, Director at Interactive Commodities, said the market has clearly broken past a strong resistance level, signalling bullish momentum. "Gold prices are on the upside.

It has broken a strong resistance and made a high of $4,207. The market was around $4,199, with a low of $4,150. As I mentioned earlier, the chances of more upside remain strong," he noted.

Agar added that upcoming US economic data scheduled for next week will likely guide the next major move, but until then, gold is expected to trade between $4,200 and $4,300.

Analysts say the broader outlook remains supportive for bullion, as easing expectations and softer yields continue to make non-yielding assets like gold attractive to investors.