In a notable shift in the precious metals market, the price of 24-karat gold in Pakistan exhibited an increase of Rs700 per tola, reaching Rs215,800 on Monday.
This surge follows the closing price of Rs215,100 on the last trading day, Saturday.
The price adjustment was not exclusive to tola measurements; the cost of 10 grammes of 24-karat gold also experienced an uptick, rising by Rs600 to Rs185,014 from its previous value of Rs184,414.
Similarly, 22-karat gold saw an increase in its 10-gramme price, climbing to Rs169,596 from Rs169,046, as reported by the All Sindh Sarafa Jewellers Association.
Contrary to the movement in gold prices, the rates for silver remained consistent. The cost of one tola and ten grammes of silver held steady at Rs2,570 and Rs2,203.36, respectively.
Internationally, the gold market displayed a contrasting trend, witnessing a decrease of $02, with the new rate standing at $2,054, down from $2,056, according to the association’s findings.
Meanwhile, the Pakistan Stock Exchange (PSX) recorded a week of positive trends and increased business activities. Investors demonstrated optimism regarding political stability following the general elections on February 8.
As the business week concluded, the KSE-100 index closed at an impressive 62,815 points, reflecting a gain of 2,943 points, or 4.92 per cent.
The index had reached its peak during the week, showcasing investor confidence in the anticipated political stability post-elections.
