Gold prices in local and international markets witnessed a sharp increase, with the price of one tola rising by Rs5,000 on Thursday.

According to market rates, the price of one tola of gold increased to Rs475,362, while 10 grams of gold became costlier by Rs4,287, reaching Rs407,546.

In the international market, gold prices rose by $50 per ounce, taking the rate to $4,530 per ounce.