Gold prices jump in Pakistan as global rates surge

KARACHI: Gold prices in Pakistan surged sharply on Tuesday, tracking gains in international markets, with the price of 24-carat gold rising by Rs6,200 per tola in the local market.

According to market data, the price of 24-carat gold increased to Rs539,562 per tola, while the price of 10 grams rose by Rs5,316 to Rs462,587.

In the international bullion market, gold prices climbed by $62 per ounce to reach $5,168.

Meanwhile, silver prices also recorded an increase in Pakistan. The price of silver rose by Rs460 per tola to Rs9,354, while the rate for 10 grams increased by Rs394 to Rs8,019.

On the other hand, Pakistan’s benchmark KSE-100 index saw a remarkable rebound on Tuesday, climbing 10,757.64 points during early trading to reach 157,300.45 points, up from the previous session’s close of 146,480.14 points. The sharp rally triggered a temporary market halt under Pakistan Stock Exchange (PSX) regulations.

According to an official notice from the exchange, trading was suspended after the KSE-30 index recorded a 5 per cent increase from Monday’s close, activating the PSX’s market suspension mechanism. Trading resumed at 10:27 AM.