Gold prices continued to climb on Saturday, increasing in both international and domestic markets, further pushing the precious metal out of the reach of ordinary consumers.
In the international bullion market, spot gold rose 0.4% to $4,347.07 an ounce by 2:17 p.m. ET (19:17 GMT), recording a weekly gain of 1.1%. Meanwhile, US gold futures rose 0.5% to $4,387.3 an ounce.
Earlier, benchmark gold prices gained $13 to $4,338 per ounce.
Read: Gold prices are continuously rising and continue to rise today
Following the global bullish trend, gold prices in the local market have also recorded an increase. Gold price per tola increased by Rs 1,300 to Rs 456,162, while the rate per 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 an ounce, ending the week up 8.4% after hitting a record high of $67.45 earlier in the day.
Analysts say the sustained rally in precious metals reflects strong investor demand amid global economic uncertainty and expectations of continued monetary easing from major central banks.
