Gold price hits record high in Pakistan

KARACHI: Gold prices jumped sharply in the local market on Monday, following a rise in global rates.

According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), in domestic bullion market, the price of 24-carat gold per tola surged by Rs9,200 to reach Rs464,762, while the price per 10 grams rose by Rs7,888 to Rs398,458.

Silver prices in local markets also increased, with the price per tola climbing by Rs267 to Rs8,023, and the 10-gram rate rising by Rs229 to Rs6,878.

On the international market, gold rose by $92 per ounce to $ 4,424 per ounce, reflecting a broader upward trend in global bullion prices.

Menawhile, the wave of record-setting bullish trend continues at the Pakistan Stock Exchange, with the index once again reaching a new all-time high on Monday.

On the first trading day of the business week, the market opened with a strong rise of 1,828 points, taking the KSE-100 Index to a new historic level of 180,863 points.

Subsequently, the bullish trend strengthened further, and with record gains of 1,940, 1,999, 2,225, 2,357 and then 2,634 points, the index touched the level of 181,669 points, marking the highest level in history.

After noon, the market witnessed extraordinary bullish momentum, and with a historic surge of 4,210 points, the KSE-100 Index rose to a new all-time high of 183,245 points.