The price of gold in Pakistan surged by Rs. 1,400 per tola on Friday, bringing the two-day increase to Rs. 3,400 per tola and edging closer to the all-time high. According to the Karachi Sarafa Association, the price of 24-carat gold rose to Rs. 263,500 per tola, while the price for 10 grams increased by Rs. 1,200, reaching Rs. 225,908.

This rise follows a Rs. 2,000 per tola increase on Thursday, after a decline in the previous two days.

In the international market, gold prices hovered near a one-week high as investors focused on U.S. jobs data, which could influence the Federal Reserve’s anticipated rate cut later this month. Spot gold was up 0.1 percent at $2,518.49 per ounce by 0742 GMT, while U.S. gold futures rose 0.2 percent to $2,548.50.