Gold prices declined on the first day of the new business week, reflecting a downward trend in the international market.
According to data from the All Pakistan Gems and Jewellers Association, the price of gold fell by Rs600 per tola, settling at Rs272,600. Similarly, the rate for 10-gram gold decreased by Rs514, closing at Rs233,711 in the local market.
In the international market, the price of gold per ounce dropped by $6, reaching $2,614.
Meanwhile, the Pakistan Stock Exchange (PSX) experienced a massive bullish trend during intraday trading on Monday. The KSE-100 index surged by 3,912 points, reaching an intraday high of 115,263.83 points. Analysts attribute the gains to improved macroeconomic stability and investor confidence fueled by favorable monetary policies introduced by the government.
Last week, the stock market exhibited volatility but closed on a positive note, ending at 111,351 points after a gain of 927 points on Friday.
