The price of gold increased by Rs450 and was standing at Rs228,600 per tola for selling on March 9 compared with the earlier price of Rs228,150 in Pakistan, the All Sindh Sarafa Jewellers Association reported.

The price of 10 grammes of gold also increased by Rs386 to Rs195,988 from the previous price of Rs195,602.

Similarly, the price of 10 grammes 22 karat gold went up to Rs179,655 from Rs179,301.

The price of per tola and 10 grammes of silver remained flat at Rs2,600 and Rs2,229.08, respectively.

In the international market, gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Federal Reserve Chair Jerome Powell’s remarks cemented mid-year interest rate cut bets, ahead of a US key jobs report later in the day.

Spot gold was flat at $2,157.32 per ounce, hovering around a record peak of $2,164.09 hit on Thursday while US gold futures were flat at $2,164.60.