KARACHI – Gold prices in Pakistan surged to another record high in domestic market of Pakistan in line with upward trend in global markets amid increasing hopes for US Federal Reserve rate cut.
According to jewelers association, price of 24-karate gold recorded a massive increase of Rs6,100 per tola with new rate reaching fresh high of Rs384,000.
The price of 10-gram gold also registered whooping gains as it surged by Rs5,230 to Rs329,219 in domestic market.
The precious commodity also reached all-time high in global market the price of per ounce gold increased by $61 to settle at $3,613.
Per tola Gold Rate in Pakistan Today
The per tola gold rate in Pakistan stood at Rs384,000, the all-time high price in history of Pakistan, after it surged by Rs6,100.
PSX Climbs to All-Time High
The Pakistan Stock Exchange (PSX) registered significant gains on opening day of the new business week as it has achieved another historic milestone on Monday amid positive economic indicators that have boosted investor confidence.
The KSE-100 index gained over 1,800 points during intraday trading to reach all-time high of 156,080.79 points compared to previous close of 154,277.19 points.
The upward trajectory has offset the concerns over risk to national economy due to ongoing devastating floods that have damaged farmlands.
Today’s gains mark the seventh consecutive bullish day as investors have posted trust on the government policies.
It also comes as Pakistani rupee continued to strengthen against the US dollar in both interbank on open markets.
