Gold prices fall in Pakistan, international market

The price of 24-karat gold experienced a decline in the local market today, dropping by Rs.500 per tola to settle at Rs.283,200, down from the previous trading price of Rs.283,700, according to the All Sindh Sarafa Jewellers Association.

The price of 10 grams of 24-karat gold also decreased by Rs.429, reaching Rs.242,798, compared to Rs.243,227 in the previous session. Similarly, the price of 10-gram 22-karat gold fell to Rs.222,565 from Rs.222,958.

In contrast to gold, silver prices remained unchanged. The price of per tola silver was stable at Rs.3,430, while the price of 10 grams of silver remained at Rs.2,940.67.

Despite a global dip in gold prices, which fell by $5 per ounce to $2,736, the local silver market remained unaffected, maintaining its prices. The local gold price adjustments mirrored the global trend, but silver showed resilience against international market fluctuations.

Meanwhile, the Pakistan Stock Exchange (PSX) saw a modest rise today. The KSE-100 index closed at 92,168.60, marking an increase of 230.60 points or 0.25%. The index had reached a high of 92,514.30 during intra-day trading but later dropped to a low of 91,536.09. A total of 244,630,758 shares were traded, with the total value of shares exchanged amounting to Rs.19.3 billion.

The stock market’s positive performance followed a previous close of 91,938.00, reflecting a slight yet steady boost in investor confidence.