Gold prices move upward in Pakistan

Gold prices saw a noticeable rise on Wednesday, following a drop the day before.

The international gold market saw an increase of $10, bringing the per-ounce rate to $2,647. This surge led to a significant rise in local prices in Pakistan.

In Pakistan, 24-karat gold per tola rose by Rs1,000 to Rs275,900, while the price for 10 grams climbed by Rs858 to Rs236,540.

In contrast, silver prices remained steady, with silver priced at Rs3,400 per tola and Rs2,914.95 per 10 grams.

The price changes reflect global market trends and their direct impact on local gold and silver rates.

On the other hand, the KSE-100 Index initially rose by 1,376.02 points, or 1.2%, reaching an intraday high of 116,236.7.

However, the market witnessed a sharp reversal, with the index falling to an intraday low of 110,896.27.

The session ended with the KSE-100 closing at 111,070.29, marking a significant single-day decline of 3,790.39 points, or 3.3%.