Gold prices remained steady today in both global and local markets. In the international bullion market, the price of gold per ounce stayed at $2683, showing no movement from previous levels.
In the local bullion market, the price of 24-carat gold per tola held steady at Rs278,800. This follows a significant rise yesterday, when the price of gold increased by Rs2,000, reaching a new high. The price of gold per 10 grams also remained unchanged at Rs239,026, consistent with the trend seen in international markets.
Silver Prices Stable
The price of silver in the country also remained stable. The price of silver per tola stayed at Rs3,300, while the price per 10 grams remained at Rs2,829.21. Both prices showed no change, reflecting stability in the precious metal market.
Pakistan Stock Exchange Hits Record High
Meanwhile, the Pakistan Stock Exchange (PSX) saw a historic surge on Friday, crossing the 93,000-point mark for the first time. The market gained momentum, fueled by rising global equity prices and falling local lending rates. This positive sentiment was also bolstered by a key development: Pakistan’s increased weight in the MSCI Frontier Market Small Cap Index. This adjustment is expected to attract more foreign investment into the country’s stock market.
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KSE-100 Index Reaches New Heights
The KSE-100 index reached an intra-day high of 93,514.56 points after the midday break. The market’s remarkable growth was driven by renewed investor optimism, which was supported by expectations of an economic ratings upgrade and ongoing reforms in the country. These factors have helped build confidence in Pakistan’s economic future, with investors showing increasing enthusiasm in the stock market.
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