Gold price surges, PSX sheds 254 points

KARACHI: Gold prices in Pakistan surged by Rs13,700 per tola on Thursday, reversing the previous day’s decline, according to the All Pakistan Gems and Jewellers Association.

The price of one tola of gold rose to Rs471,936 from Rs458,236 recorded on Wednesday.

The price of 10 grammes of gold also increased by Rs11,746 to Rs404,609, compared with Rs392,863 a day earlier.

In the international market, gold prices climbed by $137 to $4,495 per ounce on Thursday, after declining by $37 to $4,358 on Wednesday.

Changes in global gold prices are generally reflected quickly in local markets, including Pakistan.

Gold prices are also affected by global economic conditions, central bank policies, inflation concerns and geopolitical tensions. These factors can trigger significant fluctuations as investors often turn to gold as a safe-haven asset during periods of economic or political uncertainty.

The latest rise comes amid continued volatility in global gold markets, where investors remain focused on monetary policy expectations and movements in major currencies.

Meanwhile, the Pakistan Stock Exchange’s benchmark KSE-100 Index fell 254 points to close at 176,591 points.