KARACHI – Gold extended its gains for a second straight day in Pakistan’s domestic market on Thursday. Rising global prices, fueled by geopolitical tensions, pushed the yellow metal higher.
According to the All Pakistan Gems and Jewellers Association, the per tola gold price surged by Rs7,900 to reach Rs523,962. Similarly, the price of 10 grams jumped by Rs6,773, setting a new rate of Rs449,212.
The gains were also visible in the international bullion market, where the per ounce rate of gold increased by $79 to $5,012. Analysts said the rise is linked to global economic uncertainty and growing demand for safe-haven assets.
Meanwhile, the Pakistan Stock Exchange (PSX) witnessed a significant decline as investor sentiment weakened. Concerns surrounding the upcoming International Monetary Fund (IMF) review of Pakistan’s $7 billion Extended Fund Facility (EFF) contributed to market volatility.
The KSE-100 index dropped 6,682.80 points, closing at 172,170.29 points compared to 178,853.09 points in the previous session. This follows a strong performance on Wednesday, when the benchmark index rose 5,702.68 points, a 3.29 percent gain, closing at 178,853.10 points.
During Thursday’s trading, the ready market recorded a volume of 697.682 million shares, with a total traded value of Rs49.992 billion. This was slightly lower than Wednesday’s volume of 716.035 million shares, valued at Rs40.471 billion.
Market experts said gold continues to attract investors seeking stability amid global and domestic uncertainties. While the stock market remains volatile, gold serves as a safer investment alternative during times of economic turbulence.
Investors are advised to monitor both local and international developments carefully. The contrasting trends between equities and commodities highlight the importance of diversifying portfolios, especially when geopolitical tensions influence global markets.
In other news read more about Pakistani Rupee Holds Firm as Dollar Stays Near 279 Level
With gold prices rising steadily, Pakistanis are keeping a close eye on bullion trends, balancing their investments between the stock market and precious metals.
