A goldsmith weighs gold jewellery inside a showroom. PHOTO: REUTERS
Gold prices in Pakistan remained stable on Wednesday as international prices remained unchanged, and silver saw a minor drop.
On Tuesday, gold prices had seen a modest rise of Rs1,000, reaching Rs523,762 per tola.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price per tola remained the same today at Rs523,762, while the price for 10 grams of gold also remained unchanged at Rs449,041.
The international price of gold also held steady, remaining at $5,010 per ounce, with a premium of $20. However, the price of silver saw a decrease. Silver per tola dropped by Rs75, settling at Rs8,494.
The stable pricing comes amid fluctuating global market trends, with local gold rates mirroring international trends despite regional market dynamics.
On the other hand, investor sentiment remained firmly upbeat at the Pakistan Stock Exchange (PSX) as sustained buying momentum powered the benchmark KSE-100 index higher in a broad-based rally.
During the session, the index climbed to an intraday high of 154,684.45 and touched a low of 150,284.26. By around 1:00pm, gains stood at approximately 2.49%, reflecting steady investor confidence throughout the day.
Read: PSX rebounds on blue-chip buying
By the close, the benchmark index surged 4,276.09 points, or 2.85%, to settle at 154,292.26, marking a continuation of the ongoing bullish trend.
Market activity remained robust, with notable buying interest seen in automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, oil marketing companies (OMCs), along with power generation and refinery sectors, indicating widespread participation across the board.
