The local market price of gold in Pakistan increased by Rs6,500 to reach Rs214,500 a tola due to a falling currency.
The price of 10 grammes of gold in the domestic market also increased by Rs5,574, to Rs183,900. The rupee was under new pressure when the price of the yellow metal increased, falling by Rs1.1 to end the day on Friday at Rs277.59 in the interbank foreign currency market.
As the dollar was trading at Rs281, the local currency likewise declined on the open market and fell by Rs2.
The global movement of currencies has an impact on gold prices. In order to protect themselves from currency and market changes, investors choose to purchase gold.
The prices of gold bullion on the international market remained stable at $1,959 per ounce.