At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY
KARACHI:
Gold and silver prices recorded further gains in both international and domestic markets on the first trading day of the week.
In the international bullion market, the price of gold rose by $53 per ounce to reach $5,020.
Following the global uptrend, gold prices in the local market also increased. The price of gold per tola surged by Rs5,300 to reach Rs524,762, while the price of 10 grams of gold rose by Rs4,544 to Rs449,898.
Similarly, silver prices moved higher, with the rate per tola increasing by Rs296 to Rs8,615. The price of 10 grams of silver also climbed by Rs296 to Rs7,385.
Spot gold rose 1.1% to $5,012.76 per ounce by 0502 GMT after a 4% climb on Friday. US gold futures for April delivery gained 1.1% to $5,033.80 per ounce.
Spot silver climbed 4.6% to $81.54 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.
Spot platinum edged 0.3% lower to $2,090.13 per ounce, while palladium gained 1% to $1,723.41.
Read: Gold, silver prices rebound after one-day pause
Earlier on Saturday, after a one-day pause, gold and silver prices rose in international and local markets.
In the international bullion market, the price of gold per ounce increased by $117 to reach $4,967.
The price of gold per tola also rose by Rs11,700 to Rs519,462, and the price of gold per 10 grams increased by Rs10,030 to Rs445,354.
The price of silver per tola went up by Rs444 to Rs8,269, and the price of silver per 10 grams increased by Rs381 to Rs7,089.
On Friday, gold prices witnessed a sharp decline in the local market as the price of 24-karat gold per tola decreased by Rs21,400 to settle at Rs507,762, according to the All Pakistan Sarafa Gems and Jewellers Association.
Likewise, the price of 10 grams of 24-karat gold fell by Rs18,347 to Rs435,324, while the price of 10 grams of 22-karat gold dropped by Rs16,819 to Rs399,061.
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The price of silver also recorded a downward trend, with per-tola silver decreasing by Rs1,430 to Rs7,825, whereas the price of 10 grams of silver declined by Rs1,226 to Rs6,708.
In the international market, gold prices fell by $214 to $4,850 per ounce, while silver prices dropped by $14.30 to $73.50 per ounce.
