Gold prices in Pakistan climbed sharply on Thursday, tracking a strong upswing in the international bullion market, where prices moved back above the $5,000 per ounce mark.

In the domestic market, the price of gold per tola jumped by Rs. 7,900 to settle at Rs. 523,962. Likewise, the price of 10 grams of gold rose by Rs. 6,773 to Rs. 449,212, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association.

A day earlier, gold had closed at Rs. 516,062 per tola, reflecting a daily increase of Rs. 1,300.

On the global front, gold prices gained $79 to reach $5,012 per ounce, inclusive of a $20 premium, reinforcing bullish sentiment across markets.

Silver prices also moved higher locally, increasing by Rs. 358 to close at Rs. 8,404 per tola.