Gold prices decline in Pakistan

Gold prices in Pakistan saw a decrease of Rs1,000 per tola on Friday, following a drop in international markets.

According to data from the All Pakistan Gems and Jewelers Association, the new price for gold per tola is Rs274,700, while the cost of 10 grams of gold is now Rs235,511, down by Rs857.

The decline in local prices comes as global gold rates also experienced a dip. The international price of gold dropped by USD10, currently valued at $2,635 per ounce.

This global price reduction has had a direct impact on the domestic gold market, contributing to the drop in local rates.

Meanwhile, the Pakistan Stock Exchange (PSX) continued to attain new highs on Friday as yet another 800 points took shares across the 109,000 mark.

The benchmark KSE-100 index rose 814.99 points, or 0.75 per cent, to stand at 109,053.95 points at the end of the session from the previous close of 108,238.96.