Gold price drops, stocks gain in Pakistan

KARACHI: Gold prices in Pakistan declined by Rs600 per tola on Tuesday, while the Pakistan Stock Exchange (PSX) benchmark KSE-100 Index gained 404 points as market activity turned positive after Monday’s mixed performance.

According to the data issued by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold fell to Rs486,536 per tola, compared with Rs487,136 recorded on Monday.

The price of 10 grams of gold decreased by Rs514 to Rs417,126, according to the latest market rates.

Gold prices have remained volatile in recent sessions, tracking fluctuations in international bullion markets.

The precious metal is widely considered a safe-haven asset, with investor demand often influenced by economic uncertainty, inflation concerns, geopolitical developments and expectations regarding monetary policy.

PSX gains 404 points

Meanwhile, the Pakistan Stock Exchange witnessed a positive session on Tuesday, with the benchmark KSE-100 Index gaining 404 points to close at 177,370 points.

The index had closed at 176,966 points on Monday after shedding 199 points during the first trading session of the week.

The Tuesday recovery came after the market started the week on a weaker note, with investors tracking domestic economic developments and broader market sentiment.

The KSE-100’s 404-point gain placed the benchmark above the 177,000-point level by the close of trading.