KARACHI – The gold prices across Pakistan on Wednesday continued their upward trajectory , recording a significant increase of Rs3,500 per tola in the local market amid rising trends in the international bullion market.
GOLD PRICES IN PAKISTAN
The All Pakistan Gems and Jewellers Associatio said that the price of gold per tola has reached Rs503,462 after an increase of Rs3,500.
The price of 10 grams of gold also increased by Rs3,001, bringing it to Rs431,637 in the domestic market.
In the global market, gold prices climbed by $35 per ounce, reaching $4,811, reflecting continued volatility and bullish sentiment in international bullion trading.
Earlier in the day, in a separate development, Pakistan Stock Exchange (PSX) witnessed a strong rally as the benchmark KSE-100 Index climbed by more than 4,000 points, driven by renewed investor confidence amid optimism over possible US-Iran negotiations.
The KSE-100 Index surged by 4,544.19 points, or 2.74%, closing at 170,179.03 points compared to the previous session’s 165,634.84 points.
Market analysts attributed the bullish trend to improving global sentiment and expectations of easing geopolitical tensions. Ahfaz Mustafa, CEO of Ismail Iqbal Securities, noted that hopes for a resolution to the Middle East conflict in the coming days, along with declining oil prices, have boosted investor confidence.
