Gold prices rise by Rs1,000 per tola amid stock market decline
Gold prices in Pakistan saw a significant increase on Tuesday, with the price of 24-karat gold rising by Rs1,000 per tola to reach Rs277,400, compared to Rs276,400 on the previous trading day, as reported by the All Sindh Sarafa Jewellers Association.
The price of 10 grams of 24-karat gold increased by Rs858, reaching Rs237,826 from the prior Rs236,698. Similarly, the rate for 10 grams of 22-karat gold climbed to Rs218,007, up from Rs217,221.
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Silver prices remained stable, with per tola and 10-gram rates steady at Rs3,400 and Rs2,914.95, respectively.
On the international market, gold prices also saw a rise of $10, reaching $2,662 per ounce from the previous $2,652, reflecting global trends impacting local markets.
While gold prices climbed, the Pakistan Stock Exchange (PSX) faced a bearish trend. The KSE-100 Index dropped by 1,073.74 points, marking a 0.98% decline, and closed at 108,896.65 points compared to 109,970.39 points on the previous day.
Trading volume saw a slight decrease, with 1,548,302,320 shares exchanged during the day compared to 1,597,868,204 shares in the prior session. However, the total value of traded shares rose to Rs68.805 billion from Rs60.251 billion, indicating mixed activity amid market uncertainty.
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