Pakistan witnesses massive increase in gold price

KARACHI: The price of gold in Pakistan rose by Rs1,800 per tola on Friday, reaching Rs276,200. The rate for 10 grams of gold also increased by Rs1,543, bringing it to Rs236,797.

Experts attributed the rise in local gold prices to global market trends.

Meanwhile, the Pakistani rupee gained 22 paisas against the US dollar in the interbank market, closing at Rs277.52, according to the State Bank of Pakistan.

Meanwhile, despite the heated political climate, the Pakistan Stock Exchange (PSX) remained strong, posting a gain of 810.19 points on Friday.

The benchmark KSE-100 index pierced through 83,000 points during first half of the day, touching 83,182.37 points before Jummah break. After the break, the bourse once again picked up pace and closed at 83,531.95 points.