diff --git a/client/amqp/v2/amqp.go b/client/amqp/v2/amqp.go
index 573b3aaac..66d7adb7e 100644
--- a/client/amqp/v2/amqp.go
+++ b/client/amqp/v2/amqp.go
@@ -12,7 +12,7 @@ import (
 	patronerrors "github.com/beatlabs/patron/errors"
 	"github.com/beatlabs/patron/log"
 	"github.com/beatlabs/patron/trace"
-	opentracing "github.com/opentracing/opentracing-go"
+	"github.com/opentracing/opentracing-go"
 	"github.com/opentracing/opentracing-go/ext"
 	"github.com/prometheus/client_golang/prometheus"
 	"github.com/streadway/amqp"
@@ -100,7 +100,7 @@ func (tc *Publisher) Publish(ctx context.Context, exchange, key string, mandator
 	start := time.Now()
 	err := tc.channel.Publish(exchange, key, mandatory, immediate, msg)
 
-	observePublish(sp, start, exchange, err)
+	observePublish(ctx, sp, start, exchange, err)
 	if err != nil {
 		return fmt.Errorf("failed to publish message: %w", err)
 	}
@@ -120,7 +120,11 @@ func (c amqpHeadersCarrier) Set(key, val string) {
 	c[key] = val
 }
 
-func observePublish(span opentracing.Span, start time.Time, exchange string, err error) {
+func observePublish(ctx context.Context, span opentracing.Span, start time.Time, exchange string, err error) {
 	trace.SpanComplete(span, err)
-	publishDurationMetrics.WithLabelValues(exchange, strconv.FormatBool(err != nil)).Observe(time.Since(start).Seconds())
+
+	durationHistogram := trace.Histogram{
+		Observer: publishDurationMetrics.WithLabelValues(exchange, strconv.FormatBool(err == nil)),
+	}
+	durationHistogram.Observe(ctx, time.Since(start).Seconds())
 }
diff --git a/client/es/elasticsearch.go b/client/es/elasticsearch.go
index ed2bde43f..32fd66357 100644
--- a/client/es/elasticsearch.go
+++ b/client/es/elasticsearch.go
@@ -17,7 +17,7 @@ import (
 	elasticsearch "github.com/elastic/go-elasticsearch/v8"
 	"github.com/elastic/go-elasticsearch/v8/esapi"
 	"github.com/elastic/go-elasticsearch/v8/estransport"
-	opentracing "github.com/opentracing/opentracing-go"
+	"github.com/opentracing/opentracing-go"
 	"github.com/opentracing/opentracing-go/ext"
 	"github.com/prometheus/client_golang/prometheus"
 )
@@ -120,8 +120,10 @@ func (c *transportClient) Perform(req *http.Request) (*http.Response, error) {
 
 func observeResponse(req *http.Request, sp opentracing.Span, rsp *http.Response, start time.Time) {
 	endSpan(sp, rsp)
-	reqDurationMetrics.WithLabelValues(req.Method, req.URL.Host, strconv.Itoa(rsp.StatusCode)).
-		Observe(time.Since(start).Seconds())
+	durationHistogram := trace.Histogram{
+		Observer: reqDurationMetrics.WithLabelValues(req.Method, req.URL.Host, strconv.Itoa(rsp.StatusCode)),
+	}
+	durationHistogram.Observe(req.Context(), time.Since(start).Seconds())
 }
 
 // Config is a wrapper for elasticsearch.Config
diff --git a/client/grpc/grpc.go b/client/grpc/grpc.go
index b625d9ccf..d386c9b43 100644
--- a/client/grpc/grpc.go
+++ b/client/grpc/grpc.go
@@ -86,9 +86,11 @@ func unaryInterceptor(target string) grpc.UnaryClientInterceptor {
 		invokeDuration := time.Since(invokeTime)
 
 		rpcStatus, _ := status.FromError(err) // codes.OK if err == nil, codes.Unknown if !ok
-		rpcDurationMetrics.
-			WithLabelValues(unary, target, method, rpcStatus.Code().String()).
-			Observe(invokeDuration.Seconds())
+
+		durationHistogram := trace.Histogram{
+			Observer: rpcDurationMetrics.WithLabelValues(unary, target, method, rpcStatus.Code().String()),
+		}
+		durationHistogram.Observe(ctx, invokeDuration.Seconds())
 
 		if err != nil {
 			trace.SpanError(span)
diff --git a/client/http/http.go b/client/http/http.go
index b6276b300..91efc6c29 100644
--- a/client/http/http.go
+++ b/client/http/http.go
@@ -93,9 +93,10 @@ func (tc *TracedClient) Do(req *http.Request) (*http.Response, error) {
 	}
 
 	ext.HTTPStatusCode.Set(ht.Span(), uint16(rsp.StatusCode))
-	reqDurationMetrics.
-		WithLabelValues(req.Method, req.URL.Host, strconv.Itoa(rsp.StatusCode)).
-		Observe(time.Since(start).Seconds())
+	durationHistogram := trace.Histogram{
+		Observer: reqDurationMetrics.WithLabelValues(req.Method, req.URL.Host, strconv.Itoa(rsp.StatusCode)),
+	}
+	durationHistogram.Observe(req.Context(), time.Since(start).Seconds())
 
 	if hdr := req.Header.Get(encoding.AcceptEncodingHeader); hdr != "" {
 		rsp.Body = decompress(hdr, rsp)
diff --git a/client/redis/redis.go b/client/redis/redis.go
index ff1baf9a2..2a36297fb 100644
--- a/client/redis/redis.go
+++ b/client/redis/redis.go
@@ -9,7 +9,7 @@ import (
 	"github.com/beatlabs/patron/trace"
 	"github.com/go-redis/redis/extra/rediscmd"
 	"github.com/go-redis/redis/v8"
-	opentracing "github.com/opentracing/opentracing-go"
+	"github.com/opentracing/opentracing-go"
 	"github.com/opentracing/opentracing-go/ext"
 	"github.com/prometheus/client_golang/prometheus"
 )
@@ -89,7 +89,10 @@ func (th tracingHook) AfterProcessPipeline(ctx context.Context, cmds []redis.Cmd
 
 func observeDuration(ctx context.Context, cmd string, err error) {
 	dur := time.Since(ctx.Value(duration{}).(time.Time))
-	cmdDurationMetrics.WithLabelValues(cmd, strconv.FormatBool(err != nil)).Observe(dur.Seconds())
+	durationHistogram := trace.Histogram{
+		Observer: cmdDurationMetrics.WithLabelValues(cmd, strconv.FormatBool(err == nil)),
+	}
+	durationHistogram.Observe(ctx, dur.Seconds())
 }
 
 func startSpan(ctx context.Context, address, opName string) (opentracing.Span, context.Context) {
diff --git a/client/sns/v2/publisher.go b/client/sns/v2/publisher.go
index bda64263c..324079ce2 100644
--- a/client/sns/v2/publisher.go
+++ b/client/sns/v2/publisher.go
@@ -69,10 +69,10 @@ func (p Publisher) Publish(ctx context.Context, input *sns.PublishInput) (messag
 	start := time.Now()
 	out, err := p.api.PublishWithContext(ctx, input)
 	if input.TopicArn != nil {
-		observePublish(span, start, *input.TopicArn, err)
+		observePublish(ctx, span, start, *input.TopicArn, err)
 	}
 	if input.TargetArn != nil {
-		observePublish(span, start, *input.TargetArn, err)
+		observePublish(ctx, span, start, *input.TargetArn, err)
 	}
 	if err != nil {
 		return "", fmt.Errorf("failed to publish message: %w", err)
@@ -124,7 +124,11 @@ func injectHeaders(span opentracing.Span, input *sns.PublishInput) error {
 	return nil
 }
 
-func observePublish(span opentracing.Span, start time.Time, topic string, err error) {
+func observePublish(ctx context.Context, span opentracing.Span, start time.Time, topic string, err error) {
 	trace.SpanComplete(span, err)
-	publishDurationMetrics.WithLabelValues(topic, strconv.FormatBool(err != nil)).Observe(time.Since(start).Seconds())
+
+	durationHistogram := trace.Histogram{
+		Observer: publishDurationMetrics.WithLabelValues(topic, strconv.FormatBool(err == nil)),
+	}
+	durationHistogram.Observe(ctx, time.Since(start).Seconds())
 }
diff --git a/client/sql/sql.go b/client/sql/sql.go
index 0075adf73..a3a29f25b 100644
--- a/client/sql/sql.go
+++ b/client/sql/sql.go
@@ -10,7 +10,7 @@ import (
 	"time"
 
 	"github.com/beatlabs/patron/trace"
-	opentracing "github.com/opentracing/opentracing-go"
+	"github.com/opentracing/opentracing-go"
 	"github.com/opentracing/opentracing-go/ext"
 	"github.com/prometheus/client_golang/prometheus"
 )
@@ -75,7 +75,7 @@ func (c *Conn) BeginTx(ctx context.Context, opts *sql.TxOptions) (*Tx, error) {
 	sp, _ := c.startSpan(ctx, op, "")
 	start := time.Now()
 	tx, err := c.conn.BeginTx(ctx, opts)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -89,7 +89,7 @@ func (c *Conn) Close(ctx context.Context) error {
 	sp, _ := c.startSpan(ctx, op, "")
 	start := time.Now()
 	err := c.conn.Close()
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return err
 }
 
@@ -99,7 +99,7 @@ func (c *Conn) Exec(ctx context.Context, query string, args ...interface{}) (sql
 	sp, _ := c.startSpan(ctx, op, query)
 	start := time.Now()
 	res, err := c.conn.ExecContext(ctx, query, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return res, err
 }
 
@@ -109,7 +109,7 @@ func (c *Conn) Ping(ctx context.Context) error {
 	sp, _ := c.startSpan(ctx, op, "")
 	start := time.Now()
 	err := c.conn.PingContext(ctx)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return err
 }
 
@@ -119,7 +119,7 @@ func (c *Conn) Prepare(ctx context.Context, query string) (*Stmt, error) {
 	sp, _ := c.startSpan(ctx, op, query)
 	start := time.Now()
 	stmt, err := c.conn.PrepareContext(ctx, query)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -132,7 +132,7 @@ func (c *Conn) Query(ctx context.Context, query string, args ...interface{}) (*s
 	sp, _ := c.startSpan(ctx, op, query)
 	start := time.Now()
 	rows, err := c.conn.QueryContext(ctx, query, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -146,7 +146,7 @@ func (c *Conn) QueryRow(ctx context.Context, query string, args ...interface{})
 	sp, _ := c.startSpan(ctx, op, query)
 	start := time.Now()
 	row := c.conn.QueryRowContext(ctx, query, args...)
-	observeDuration(sp, start, op, nil)
+	observeDuration(ctx, sp, start, op, nil)
 	return row
 }
 
@@ -191,7 +191,7 @@ func (db *DB) BeginTx(ctx context.Context, opts *sql.TxOptions) (*Tx, error) {
 	sp, _ := db.startSpan(ctx, op, "")
 	start := time.Now()
 	tx, err := db.db.BeginTx(ctx, opts)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -204,7 +204,7 @@ func (db *DB) Close(ctx context.Context) error {
 	sp, _ := db.startSpan(ctx, op, "")
 	start := time.Now()
 	err := db.db.Close()
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return err
 }
 
@@ -214,7 +214,7 @@ func (db *DB) Conn(ctx context.Context) (*Conn, error) {
 	sp, _ := db.startSpan(ctx, op, "")
 	start := time.Now()
 	conn, err := db.db.Conn(ctx)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -228,7 +228,7 @@ func (db *DB) Driver(ctx context.Context) driver.Driver {
 	sp, _ := db.startSpan(ctx, op, "")
 	start := time.Now()
 	drv := db.db.Driver()
-	observeDuration(sp, start, op, nil)
+	observeDuration(ctx, sp, start, op, nil)
 	return drv
 }
 
@@ -238,7 +238,7 @@ func (db *DB) Exec(ctx context.Context, query string, args ...interface{}) (sql.
 	sp, _ := db.startSpan(ctx, op, query)
 	start := time.Now()
 	res, err := db.db.ExecContext(ctx, query, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -252,7 +252,7 @@ func (db *DB) Ping(ctx context.Context) error {
 	sp, _ := db.startSpan(ctx, op, "")
 	start := time.Now()
 	err := db.db.PingContext(ctx)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return err
 }
 
@@ -262,7 +262,7 @@ func (db *DB) Prepare(ctx context.Context, query string) (*Stmt, error) {
 	sp, _ := db.startSpan(ctx, op, query)
 	start := time.Now()
 	stmt, err := db.db.PrepareContext(ctx, query)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -276,7 +276,7 @@ func (db *DB) Query(ctx context.Context, query string, args ...interface{}) (*sq
 	sp, _ := db.startSpan(ctx, op, query)
 	start := time.Now()
 	rows, err := db.db.QueryContext(ctx, query, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -290,7 +290,7 @@ func (db *DB) QueryRow(ctx context.Context, query string, args ...interface{}) *
 	sp, _ := db.startSpan(ctx, op, query)
 	start := time.Now()
 	row := db.db.QueryRowContext(ctx, query, args...)
-	observeDuration(sp, start, op, nil)
+	observeDuration(ctx, sp, start, op, nil)
 	return row
 }
 
@@ -315,7 +315,7 @@ func (db *DB) Stats(ctx context.Context) sql.DBStats {
 	sp, _ := db.startSpan(ctx, op, "")
 	start := time.Now()
 	stats := db.db.Stats()
-	observeDuration(sp, start, op, nil)
+	observeDuration(ctx, sp, start, op, nil)
 	return stats
 }
 
@@ -332,7 +332,7 @@ func (s *Stmt) Close(ctx context.Context) error {
 	sp, _ := s.startSpan(ctx, op, "")
 	start := time.Now()
 	err := s.stmt.Close()
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return err
 }
 
@@ -342,7 +342,7 @@ func (s *Stmt) Exec(ctx context.Context, args ...interface{}) (sql.Result, error
 	sp, _ := s.startSpan(ctx, op, s.query)
 	start := time.Now()
 	res, err := s.stmt.ExecContext(ctx, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -356,7 +356,7 @@ func (s *Stmt) Query(ctx context.Context, args ...interface{}) (*sql.Rows, error
 	sp, _ := s.startSpan(ctx, op, s.query)
 	start := time.Now()
 	rows, err := s.stmt.QueryContext(ctx, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -370,7 +370,7 @@ func (s *Stmt) QueryRow(ctx context.Context, args ...interface{}) *sql.Row {
 	sp, _ := s.startSpan(ctx, op, s.query)
 	start := time.Now()
 	row := s.stmt.QueryRowContext(ctx, args...)
-	observeDuration(sp, start, op, nil)
+	observeDuration(ctx, sp, start, op, nil)
 	return row
 }
 
@@ -386,7 +386,7 @@ func (tx *Tx) Commit(ctx context.Context) error {
 	sp, _ := tx.startSpan(ctx, op, "")
 	start := time.Now()
 	err := tx.tx.Commit()
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return err
 }
 
@@ -396,7 +396,7 @@ func (tx *Tx) Exec(ctx context.Context, query string, args ...interface{}) (sql.
 	sp, _ := tx.startSpan(ctx, op, query)
 	start := time.Now()
 	res, err := tx.tx.ExecContext(ctx, query, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -410,7 +410,7 @@ func (tx *Tx) Prepare(ctx context.Context, query string) (*Stmt, error) {
 	sp, _ := tx.startSpan(ctx, op, query)
 	start := time.Now()
 	stmt, err := tx.tx.PrepareContext(ctx, query)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -424,7 +424,7 @@ func (tx *Tx) Query(ctx context.Context, query string, args ...interface{}) (*sq
 	sp, _ := tx.startSpan(ctx, op, query)
 	start := time.Now()
 	rows, err := tx.tx.QueryContext(ctx, query, args...)
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	if err != nil {
 		return nil, err
 	}
@@ -437,7 +437,7 @@ func (tx *Tx) QueryRow(ctx context.Context, query string, args ...interface{}) *
 	sp, _ := tx.startSpan(ctx, op, query)
 	start := time.Now()
 	row := tx.tx.QueryRowContext(ctx, query, args...)
-	observeDuration(sp, start, op, nil)
+	observeDuration(ctx, sp, start, op, nil)
 	return row
 }
 
@@ -447,7 +447,7 @@ func (tx *Tx) Rollback(ctx context.Context) error {
 	sp, _ := tx.startSpan(ctx, op, "")
 	start := time.Now()
 	err := tx.tx.Rollback()
-	observeDuration(sp, start, op, err)
+	observeDuration(ctx, sp, start, op, err)
 	return err
 }
 
@@ -457,7 +457,7 @@ func (tx *Tx) Stmt(ctx context.Context, stmt *Stmt) *Stmt {
 	sp, _ := tx.startSpan(ctx, op, stmt.query)
 	start := time.Now()
 	st := &Stmt{stmt: tx.tx.StmtContext(ctx, stmt.stmt), connInfo: tx.connInfo, query: stmt.query}
-	observeDuration(sp, start, op, nil)
+	observeDuration(ctx, sp, start, op, nil)
 	return st
 }
 
@@ -491,7 +491,11 @@ func parseDSN(dsn string) DSNInfo {
 	return res
 }
 
-func observeDuration(span opentracing.Span, start time.Time, op string, err error) {
+func observeDuration(ctx context.Context, span opentracing.Span, start time.Time, op string, err error) {
 	trace.SpanComplete(span, err)
-	opDurationMetrics.WithLabelValues(op, strconv.FormatBool(err == nil)).Observe(time.Since(start).Seconds())
+
+	durationHistogram := trace.Histogram{
+		Observer: opDurationMetrics.WithLabelValues(op, strconv.FormatBool(err == nil)),
+	}
+	durationHistogram.Observe(ctx, time.Since(start).Seconds())
 }
diff --git a/client/sqs/v2/publisher.go b/client/sqs/v2/publisher.go
index f21041af3..f49638375 100644
--- a/client/sqs/v2/publisher.go
+++ b/client/sqs/v2/publisher.go
@@ -63,7 +63,7 @@ func (p Publisher) Publish(ctx context.Context, msg *sqs.SendMessageInput) (mess
 
 	start := time.Now()
 	out, err := p.api.SendMessageWithContext(ctx, msg)
-	observePublish(span, start, *msg.QueueUrl, err)
+	observePublish(ctx, span, start, *msg.QueueUrl, err)
 	if err != nil {
 		return "", fmt.Errorf("failed to publish message: %w", err)
 	}
@@ -101,7 +101,11 @@ func injectHeaders(span opentracing.Span, input *sqs.SendMessageInput) error {
 	return nil
 }
 
-func observePublish(span opentracing.Span, start time.Time, queue string, err error) {
+func observePublish(ctx context.Context, span opentracing.Span, start time.Time, queue string, err error) {
 	trace.SpanComplete(span, err)
-	publishDurationMetrics.WithLabelValues(queue, strconv.FormatBool(err != nil)).Observe(time.Since(start).Seconds())
+
+	durationHistogram := trace.Histogram{
+		Observer: publishDurationMetrics.WithLabelValues(queue, strconv.FormatBool(err == nil)),
+	}
+	durationHistogram.Observe(ctx, time.Since(start).Seconds())
 }
diff --git a/component/amqp/component.go b/component/amqp/component.go
index 323843d36..7d74ef61a 100644
--- a/component/amqp/component.go
+++ b/component/amqp/component.go
@@ -38,9 +38,9 @@ const (
 )
 
 var (
-	messageAge     *prometheus.GaugeVec
-	messageCounter *prometheus.CounterVec
-	queueSize      *prometheus.GaugeVec
+	messageAge        *prometheus.GaugeVec
+	messageCounterVec *prometheus.CounterVec
+	queueSize         *prometheus.GaugeVec
 )
 
 func init() {
@@ -54,7 +54,7 @@ func init() {
 		[]string{"queue"},
 	)
 	prometheus.MustRegister(messageAge)
-	messageCounter = prometheus.NewCounterVec(
+	messageCounterVec = prometheus.NewCounterVec(
 		prometheus.CounterOpts{
 			Namespace: "component",
 			Subsystem: "amqp",
@@ -63,7 +63,7 @@ func init() {
 		},
 		[]string{"queue", "state", "hasError"},
 	)
-	prometheus.MustRegister(messageCounter)
+	prometheus.MustRegister(messageCounterVec)
 	queueSize = prometheus.NewGaugeVec(
 		prometheus.GaugeOpts{
 			Namespace: "component",
@@ -334,7 +334,7 @@ func messageCountInc(queue string, state messageState, err error) {
 	if err != nil {
 		hasError = "true"
 	}
-	messageCounter.WithLabelValues(queue, string(state), hasError).Inc()
+	messageCounterVec.WithLabelValues(queue, string(state), hasError).Inc()
 }
 
 func mapHeader(hh amqp.Table) map[string]string {
diff --git a/component/grpc/observability.go b/component/grpc/observability.go
index ff0e0329f..42a64cc70 100644
--- a/component/grpc/observability.go
+++ b/component/grpc/observability.go
@@ -111,12 +111,19 @@ func (o *observer) log(err error) {
 
 func (o *observer) messageHandled(err error) {
 	st, _ := status.FromError(err)
-	rpcHandledMetric.WithLabelValues(o.typ, o.service, o.method, st.Code().String()).Inc()
+	rpcHandledCounter := trace.Counter{
+		Counter: rpcHandledMetric.WithLabelValues(o.typ, o.service, o.method, st.Code().String()),
+	}
+	rpcHandledCounter.Inc(o.ctx)
 }
 
 func (o *observer) messageLatency(dur time.Duration, err error) {
 	st, _ := status.FromError(err)
-	rpcLatencyMetric.WithLabelValues(o.typ, o.service, o.method, st.Code().String()).Observe(dur.Seconds())
+
+	rpcLatencyMetricObserver := trace.Histogram{
+		Observer: rpcLatencyMetric.WithLabelValues(o.typ, o.service, o.method, st.Code().String()),
+	}
+	rpcLatencyMetricObserver.Observe(o.ctx, dur.Seconds())
 }
 
 func observableUnaryInterceptor(ctx context.Context, req interface{}, info *grpc.UnaryServerInfo, handler grpc.UnaryHandler) (resp interface{}, err error) {
diff --git a/component/http/metric.go b/component/http/metric.go
index e7c2c3f40..bdf8f78d6 100644
--- a/component/http/metric.go
+++ b/component/http/metric.go
@@ -1,9 +1,10 @@
 package http
 
 import (
+	"github.com/prometheus/client_golang/prometheus"
 	"github.com/prometheus/client_golang/prometheus/promhttp"
 )
 
 func metricRoute() *RouteBuilder {
-	return NewRawRouteBuilder("/metrics", promhttp.Handler().ServeHTTP).MethodGet()
+	return NewRawRouteBuilder("/metrics", promhttp.HandlerFor(prometheus.DefaultGatherer, promhttp.HandlerOpts{EnableOpenMetrics: true}).ServeHTTP).MethodGet()
 }
diff --git a/component/http/middleware.go b/component/http/middleware.go
index 986c26f07..ae8c48dd8 100644
--- a/component/http/middleware.go
+++ b/component/http/middleware.go
@@ -188,7 +188,7 @@ func initHTTPServerMetrics() {
 // metrics are exposed via Prometheus.
 // This middleware is enabled by default.
 func NewRequestObserverMiddleware(method, path string) MiddlewareFunc {
-	// register Promethus metrics on first use
+	// register Prometheus metrics on first use
 	httpStatusTracingInit.Do(initHTTPServerMetrics)
 
 	return func(next http.Handler) http.Handler {
@@ -199,8 +199,16 @@ func NewRequestObserverMiddleware(method, path string) MiddlewareFunc {
 
 			// collect metrics about HTTP server-side handling and latency
 			status := strconv.Itoa(lw.Status())
-			httpStatusTracingHandledMetric.WithLabelValues(method, path, status).Inc()
-			httpStatusTracingLatencyMetric.WithLabelValues(method, path, status).Observe(time.Since(now).Seconds())
+
+			httpStatusCounter := trace.Counter{
+				Counter: httpStatusTracingHandledMetric.WithLabelValues(method, path, status),
+			}
+			httpStatusCounter.Inc(r.Context())
+
+			httpLatencyMetricObserver := trace.Histogram{
+				Observer: httpStatusTracingLatencyMetric.WithLabelValues(method, path, status),
+			}
+			httpLatencyMetricObserver.Observe(r.Context(), time.Since(now).Seconds())
 		})
 	}
 }
diff --git a/component/sqs/component.go b/component/sqs/component.go
index 2f7b406f0..99001cc12 100644
--- a/component/sqs/component.go
+++ b/component/sqs/component.go
@@ -46,9 +46,9 @@ const (
 )
 
 var (
-	messageAge     *prometheus.GaugeVec
-	messageCounter *prometheus.CounterVec
-	queueSize      *prometheus.GaugeVec
+	messageAge        *prometheus.GaugeVec
+	messageCounterVec *prometheus.CounterVec
+	queueSize         *prometheus.GaugeVec
 )
 
 func init() {
@@ -62,7 +62,7 @@ func init() {
 		[]string{"queue"},
 	)
 	prometheus.MustRegister(messageAge)
-	messageCounter = prometheus.NewCounterVec(
+	messageCounterVec = prometheus.NewCounterVec(
 		prometheus.CounterOpts{
 			Namespace: "component",
 			Subsystem: "sqs",
@@ -71,7 +71,7 @@ func init() {
 		},
 		[]string{"queue", "state", "hasError"},
 	)
-	prometheus.MustRegister(messageCounter)
+	prometheus.MustRegister(messageCounterVec)
 	queueSize = prometheus.NewGaugeVec(
 		prometheus.GaugeOpts{
 			Namespace: "component",
@@ -228,7 +228,7 @@ func (c *Component) consume(ctx context.Context, chErr chan error) {
 		}
 
 		logger.Debugf("Consume: received %d messages", len(output.Messages))
-		messageCountInc(c.queue.name, fetchedMessageState, len(output.Messages))
+		messageCountInc(c.queue.name, fetchedMessageState, false, len(output.Messages))
 
 		if len(output.Messages) == 0 {
 			continue
@@ -330,12 +330,12 @@ func observerMessageAge(queue string, attributes map[string]*string) {
 	messageAge.WithLabelValues(queue).Set(time.Now().UTC().Sub(time.Unix(timestamp, 0)).Seconds())
 }
 
-func messageCountInc(queue string, state messageState, count int) {
-	messageCounter.WithLabelValues(queue, string(state), "false").Add(float64(count))
-}
-
-func messageCountErrorInc(queue string, state messageState, count int) {
-	messageCounter.WithLabelValues(queue, string(state), "true").Add(float64(count))
+func messageCountInc(queue string, state messageState, hasError bool, count int) {
+	hasErrorString := "false"
+	if hasError {
+		hasErrorString = "true"
+	}
+	messageCounterVec.WithLabelValues(queue, string(state), hasErrorString).Add(float64(count))
 }
 
 func getCorrelationID(ma map[string]*sqs.MessageAttributeValue) string {
diff --git a/component/sqs/message.go b/component/sqs/message.go
index d80a23620..3647f39f0 100644
--- a/component/sqs/message.go
+++ b/component/sqs/message.go
@@ -79,17 +79,17 @@ func (m message) ACK() error {
 		ReceiptHandle: m.msg.ReceiptHandle,
 	})
 	if err != nil {
-		messageCountErrorInc(m.queue.name, ackMessageState, 1)
+		messageCountInc(m.queue.name, ackMessageState, true, 1)
 		trace.SpanError(m.span)
 		return err
 	}
-	messageCountInc(m.queue.name, ackMessageState, 1)
+	messageCountInc(m.queue.name, ackMessageState, false, 1)
 	trace.SpanSuccess(m.span)
 	return nil
 }
 
 func (m message) NACK() {
-	messageCountInc(m.queue.name, nackMessageState, 1)
+	messageCountInc(m.queue.name, nackMessageState, false, 1)
 	trace.SpanSuccess(m.span)
 }
 
@@ -117,7 +117,7 @@ func (b batch) ACK() ([]Message, error) {
 		QueueUrl: aws.String(b.queue.url),
 	})
 	if err != nil {
-		messageCountErrorInc(b.queue.name, ackMessageState, len(b.messages))
+		messageCountInc(b.queue.name, ackMessageState, true, len(b.messages))
 		for _, msg := range b.messages {
 			trace.SpanError(msg.Span())
 		}
@@ -125,7 +125,7 @@ func (b batch) ACK() ([]Message, error) {
 	}
 
 	if len(output.Successful) > 0 {
-		messageCountInc(b.queue.name, ackMessageState, len(output.Successful))
+		messageCountInc(b.queue.name, ackMessageState, false, len(output.Successful))
 
 		for _, suc := range output.Successful {
 			trace.SpanSuccess(msgMap[aws.StringValue(suc.Id)].Span())
@@ -133,7 +133,7 @@ func (b batch) ACK() ([]Message, error) {
 	}
 
 	if len(output.Failed) > 0 {
-		messageCountErrorInc(b.queue.name, ackMessageState, len(output.Failed))
+		messageCountInc(b.queue.name, ackMessageState, true, len(output.Failed))
 		failed := make([]Message, 0, len(output.Failed))
 		for _, fail := range output.Failed {
 			msg := msgMap[aws.StringValue(fail.Id)]
diff --git a/docs/observability/Observability.md b/docs/observability/Observability.md
index c4979c38c..a5e73ab71 100644
--- a/docs/observability/Observability.md
+++ b/docs/observability/Observability.md
@@ -7,4 +7,24 @@ Every component has been integrated with the above library and produces traces a
 Metrics are can be scraped via the default HTTP component at the `/metrics` route for Prometheus.  
 Traces will be sent to a Jaeger agent, which can be setup through environment variables mentioned in the config section.    
 Sane defaults are applied for making the use easy.  
-The `component` and `client` packages implement capturing and propagating of metrics and traces.
\ No newline at end of file
+The `component` and `client` packages implement capturing and propagating of metrics and traces.
+
+## Prometheus Exemplars
+
+[OpenTracing](https://opentracing.io) compatible tracing systems such as [Grafana Tempo](https://grafana.com/oss/tempo/)
+can work with [Prometheus Exemplars](https://grafana.com/docs/grafana/latest/basics/exemplars/).
+
+Below are prerequisites for enabling exemplars:
+
+- Use Prometheus Go client library version 1.4.0 or above.
+- Use the new `ExemplarObserver` for `Histogram` or `ExemplarAdder` for `Counter` 
+  because the original interfaces has not been changed for the backward compatibility.
+- Use `ObserveWithExemplar` or `AddWithExemplar` methods noting the `TraceID` key — it is needed later to configure 
+  Grafana, so that it knows which label to use to retrieve the `TraceID`
+
+An example of enabling exemplars in an already instrumented Go application can be found [here](../trace/metric.go)
+where exemplars are enabled for `Histogram` and `Counter` metrics.
+
+The result of the above steps is attached trace IDs to metrics via exemplars.
+When querying `/metrics` endpoint `curl -H "Accept: application/openmetrics-text"  <endpoint>:<port>/metrics`
+exemplars will be present in metrics entry after `#` in [Open Metrics](https://github.com/OpenObservability/OpenMetrics/blob/main/specification/OpenMetrics.md#exemplars-1) format.
\ No newline at end of file
diff --git a/trace/metric.go b/trace/metric.go
new file mode 100644
index 000000000..71254b092
--- /dev/null
+++ b/trace/metric.go
@@ -0,0 +1,73 @@
+package trace
+
+import (
+	"context"
+
+	"github.com/opentracing/opentracing-go"
+	"github.com/prometheus/client_golang/prometheus"
+	"github.com/uber/jaeger-client-go"
+)
+
+// Counter is a wrapper of a prometheus.Counter.
+type Counter struct {
+	prometheus.Counter
+}
+
+// Add adds the given value to the counter. If there is a span associated with a context ctx the method
+// replaces the currently saved exemplar (if any) with a new one, created from the provided value.
+// NB: to have a counter metric augmented with exemplars a counter metric name MUST have a suffix "_total"
+// otherwise the metric will not be collected by Prometheus, refer to an OpenMetrics specification:
+// https://github.com/OpenObservability/OpenMetrics/blob/main/specification/OpenMetrics.md
+func (c *Counter) Add(ctx context.Context, count float64) {
+	spanFromCtx := opentracing.SpanFromContext(ctx)
+	if spanFromCtx != nil {
+		if sctx, ok := spanFromCtx.Context().(jaeger.SpanContext); ok {
+			if counter, ok := c.Counter.(prometheus.ExemplarAdder); ok {
+				counter.AddWithExemplar(count, prometheus.Labels{TraceID: sctx.TraceID().String()})
+				return
+			}
+		}
+	}
+	c.Counter.Add(count)
+}
+
+// Inc increments the given value to the counter. If there is a span associated with a context ctx the method
+// replaces the currently saved exemplar (if any) with a new one, created from the provided value.
+// NB: to have a counter metric augmented with exemplars a counter metric name MUST have a suffix "_total"
+// otherwise the metric will not be collected by Prometheus, refer to an OpenMetrics specification:
+// https://github.com/OpenObservability/OpenMetrics/blob/main/specification/OpenMetrics.md
+func (c *Counter) Inc(ctx context.Context) {
+	spanFromCtx := opentracing.SpanFromContext(ctx)
+	if spanFromCtx != nil {
+		if sctx, ok := spanFromCtx.Context().(jaeger.SpanContext); ok {
+			if counter, ok := c.Counter.(prometheus.ExemplarAdder); ok {
+				counter.AddWithExemplar(1, prometheus.Labels{TraceID: sctx.TraceID().String()})
+				return
+			}
+		}
+	}
+	c.Counter.Add(1)
+}
+
+// Histogram is a wrapper of a prometheus.Observer.
+type Histogram struct {
+	prometheus.Observer
+}
+
+// Observe adds an observation. If there is a span associated with a context ctx the method replaces
+// the currently saved exemplar (if any) with a new one, created from the provided value.
+// NB: to have a histogram metric augmented with exemplars a histogram metric name MUST have a suffix "_bucket".
+// otherwise the metric will not be collected by Prometheus, refer to an OpenMetrics specification:
+// https://github.com/OpenObservability/OpenMetrics/blob/main/specification/OpenMetrics.md
+func (h *Histogram) Observe(ctx context.Context, v float64) {
+	spanFromCtx := opentracing.SpanFromContext(ctx)
+	if spanFromCtx != nil {
+		if sctx, ok := spanFromCtx.Context().(jaeger.SpanContext); ok {
+			if observer, ok := h.Observer.(prometheus.ExemplarObserver); ok {
+				observer.ObserveWithExemplar(v, prometheus.Labels{TraceID: sctx.TraceID().String()})
+				return
+			}
+		}
+	}
+	h.Observer.Observe(v)
+}
diff --git a/trace/metric_test.go b/trace/metric_test.go
new file mode 100644
index 000000000..0a67fedc7
--- /dev/null
+++ b/trace/metric_test.go
@@ -0,0 +1,223 @@
+package trace
+
+import (
+	"context"
+	"fmt"
+	"testing"
+
+	"github.com/prometheus/client_golang/prometheus"
+	"github.com/prometheus/client_golang/prometheus/testutil"
+	dto "github.com/prometheus/client_model/go"
+	"github.com/stretchr/testify/assert"
+	"github.com/stretchr/testify/require"
+)
+
+func TestCounter_Add(t *testing.T) {
+	t.Parallel()
+	type fields struct {
+		counter prometheus.Counter
+	}
+	type args struct {
+		count float64
+	}
+	tests := map[string]struct {
+		fields        fields
+		args          args
+		expectedVal   float64
+		expectedPanic bool
+	}{
+		"test-add-counter": {
+			fields: fields{
+				counter: prometheus.NewCounterVec(
+					prometheus.CounterOpts{
+						Name: "test_counter",
+					},
+					[]string{"name"},
+				).WithLabelValues("test"),
+			},
+			args: args{
+				count: 2,
+			},
+			expectedVal:   2,
+			expectedPanic: false,
+		},
+		"test-try-to-decrease-counter": {
+			fields: fields{
+				counter: prometheus.NewCounterVec(
+					prometheus.CounterOpts{
+						Name: "test_counter",
+					},
+					[]string{"name"},
+				).WithLabelValues("test"),
+			},
+			args: args{
+				count: -2,
+			},
+			expectedPanic: true,
+		},
+	}
+	for name, tt := range tests {
+		tt := tt
+		t.Run(name, func(t *testing.T) {
+			t.Parallel()
+			if tt.expectedPanic {
+				defer func() {
+					if r := recover(); r == nil {
+						t.Error("Add method did not panic.")
+					}
+				}()
+			}
+			c := Counter{
+				Counter: tt.fields.counter,
+			}
+			c.Add(context.Background(), tt.args.count)
+			if tt.expectedPanic {
+				defer func() {
+					if r := recover(); r == nil {
+						t.Error("Add method did not panic.")
+					}
+				}()
+			} else {
+				assert.Equal(t, tt.expectedVal, testutil.ToFloat64(c))
+				c.Add(context.Background(), tt.args.count)
+				assert.Equal(t, 2*tt.expectedVal, testutil.ToFloat64(c))
+			}
+		})
+	}
+}
+
+func TestCounter_Inc(t *testing.T) {
+	t.Parallel()
+	type fields struct {
+		counter prometheus.Counter
+	}
+	type args struct {
+		count int
+	}
+	tests := map[string]struct {
+		fields      fields
+		args        args
+		expectedVal float64
+	}{
+		"test-inc-counter": {
+			fields: fields{
+				counter: prometheus.NewCounterVec(
+					prometheus.CounterOpts{
+						Name: "test_counter",
+					},
+					[]string{"name"},
+				).WithLabelValues("test"),
+			},
+			args: args{
+				count: 2,
+			},
+			expectedVal: 1,
+		},
+	}
+	for name, tt := range tests {
+		tt := tt
+		t.Run(name, func(t *testing.T) {
+			t.Parallel()
+			c := Counter{
+				Counter: tt.fields.counter,
+			}
+			c.Inc(context.Background())
+			assert.Equal(t, tt.expectedVal, testutil.ToFloat64(c))
+			c.Inc(context.Background())
+			assert.Equal(t, 2*tt.expectedVal, testutil.ToFloat64(c))
+		})
+	}
+}
+
+func TestHistogram_Observe(t *testing.T) {
+	t.Parallel()
+	type fields struct {
+		histogram *prometheus.HistogramVec
+	}
+	type args struct {
+		val float64
+	}
+	tests := map[string]struct {
+		fields      fields
+		args        args
+		expectedVal float64
+	}{
+		"test-observe-histogram": {
+			fields: fields{
+				histogram: prometheus.NewHistogramVec(
+					prometheus.HistogramOpts{
+						Name: "test_histogram",
+					},
+					[]string{"name"},
+				),
+			},
+			args: args{
+				val: 2,
+			},
+			expectedVal: 2,
+		},
+		"test-observe-histogram-negative-value": {
+			fields: fields{
+				histogram: prometheus.NewHistogramVec(
+					prometheus.HistogramOpts{
+						Name: "test_histogram",
+					},
+					[]string{"name"},
+				),
+			},
+			args: args{
+				val: -2,
+			},
+			expectedVal: -2,
+		},
+	}
+	for name, tt := range tests {
+		tt := tt
+		t.Run(name, func(t *testing.T) {
+			t.Parallel()
+			h := Histogram{
+				Observer: tt.fields.histogram.WithLabelValues("test"),
+			}
+			h.Observe(context.Background(), tt.args.val)
+			actualVal, err := sampleSum(tt.fields.histogram)
+			require.Nil(t, err)
+			assert.Equal(t, tt.args.val, actualVal)
+			h.Observe(context.Background(), tt.args.val)
+			actualVal, err = sampleSum(tt.fields.histogram)
+			require.Nil(t, err)
+			assert.Equal(t, 2*tt.args.val, actualVal)
+		})
+	}
+}
+
+func sampleSum(c prometheus.Collector) (float64, error) {
+	var (
+		m      prometheus.Metric
+		mCount int
+		mChan  = make(chan prometheus.Metric)
+		done   = make(chan struct{})
+	)
+
+	go func() {
+		for m = range mChan {
+			mCount++
+		}
+		close(done)
+	}()
+
+	c.Collect(mChan)
+	close(mChan)
+	<-done
+
+	if mCount != 1 {
+		return -1, fmt.Errorf("collected %d metrics instead of exactly 1", mCount)
+	}
+
+	pb := &dto.Metric{}
+	_ = m.Write(pb)
+
+	if pb.Histogram != nil {
+		return *pb.Histogram.SampleSum, nil
+	}
+	return -1, fmt.Errorf("collected a non-histogram metric: %s", pb)
+}
diff --git a/trace/trace.go b/trace/trace.go
index 31ca3de5b..f143a2ce5 100644
--- a/trace/trace.go
+++ b/trace/trace.go
@@ -18,10 +18,12 @@ import (
 )
 
 const (
-	// HostsTag is used to tag the components's hosts.
+	// HostsTag is used to tag the component's hosts.
 	HostsTag = "hosts"
-	// VersionTag is used to tag the components's version.
+	// VersionTag is used to tag the component's version.
 	VersionTag = "version"
+	// TraceID is a label name for a request trace ID
+	TraceID = "traceID"
 )
 
 var (