Gold prices in Pakistan dropped notably on Tuesday after rising in local and international markets the previous day.
According to data from the All Pakistan Gems and Jewellers Association, the price of gold per tola fell by Rs1,100. The new rate now stands at Rs356,600. Similarly, the price of 10 grams of gold decreased by Rs943, reaching Rs305,727.
In the international market, gold prices also showed a downward trend. The precious metal lost $11 per ounce, settling at $3,339. Analysts attribute this decline to global market fluctuations and investor caution.
Meanwhile, the Pakistan Stock Exchange (PSX) continued its record-breaking rally. The benchmark KSE-100 index crossed 149,000 points for the first time, closing at 149,211.15 points. This came after a previous gain of 1,704.79 points, or 1.16 percent, the day before.
A total of 610,314,508 shares were traded, with a combined value of Rs39.17 billion. Out of 487 listed companies, 283 recorded gains, 175 posted losses, and 29 remained unchanged. Analysts say the rally is supported by an improving economic outlook and easing inflation.
Experts warn that fluctuating gold prices may continue due to global economic uncertainties. Investors are advised to monitor trends closely before making purchases.
With the stock market reaching new highs and gold prices adjusting downward, Pakistan’s financial landscape shows mixed signals for investors and traders alike.
In other news read more about Gold Prices Fall in Pakistan, Global Market Over Six Days
