Gold prices rise sharply in global, local Markets

Gold prices surged in both international and local markets on Friday, driven by a rise in global bullion prices.

In the international market, the price of gold per ounce increased by $13, reaching $2,565. This global trend also reflected in Pakistan’s domestic gold prices, which saw a significant rise.

The price of gold per tola (11.66 grams) in Karachi climbed by Rs1,300, reaching Rs267,700, while the price per 10 grams rose by Rs1,115, reaching Rs229,510.

Traders indicated that the global increase in gold prices contributed to the upward movement in local prices.

In contrast, the Pakistan Stock Exchange (PSX) witnessed a bullish trend on the same day, with the benchmark KSE-100 index surging by over 700 points.

The index opened with a gain of 768 points, reaching a high of 94,982.28 during intraday trading, just shy of the 95,000-point mark.

The KSE-100 index was up by 0.82% at the close of trading, with market participation remaining strong. The total trading value for the day reached approximately 9.77 billion rupees, with a volume of 127,962,315 shares traded.