On Wednesday, gold prices in Pakistan experienced a significant rise, following an upward trend in global markets. According to data from All Pakistan Gems and Jewellers, the price of per tola gold increased by Rs800 to settle at Rs242,300. Similarly, the price of 10 grams of gold surged by Rs684, reaching Rs207,733.
Internationally, the precious metal also saw an increase of $21, closing at $2,345 per ounce, reflecting positive movements in the global market.
This increase comes after a stable day on Tuesday, where gold prices remained unchanged both locally and internationally, with per tola gold trading at Rs241,500 and 10 grams at Rs207,047.
Meanwhile, the Pakistan Stock Exchange (PSX) experienced bullish activity on Wednesday, driven by substantial buying that pushed the benchmark KSE-100 index to new heights. Starting at 79,690 points, the index surged by nearly 800 points to touch 80,324 during the morning session. Analysts attribute this surge to optimism surrounding potential loan agreements with the International Monetary Fund (IMF) and ongoing dividend payouts.
The simultaneous rise in gold prices and the stock market index underscores dynamic economic conditions in Pakistan, influenced by both domestic developments and global economic trends. Investors are closely monitoring these movements as they navigate market opportunities and risks amid evolving financial landscapes.
