KARACHI – Gold prices increased in Pakistan on Friday, following a rise in international bullion prices.
The price of gold rose by Rs2,000 per tola, reaching a record level of Rs440,636. The price of 10 grams of gold also increased by Rs1,715 to Rs377,774.
In the international market, gold gained $20, closing at a record $4,181 per ounce.
Silver prices also moved higher in the domestic market. The price of silver increased by Rs50 per tola to reach Rs6,578.
Meanwhile, the benchmark KSE-100 Index extended its decline during the first half of Friday’s trading session as investors remained cautious amid reports of additional US troops and aircraft carriers being deployed to the Middle East.
At 11:52am, the index was trading at 167,817.38 points, down 819.47 points, or 0.49%.
Selling pressure was witnessed across several key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies and power generation.
Major index-heavy stocks, including ARL, HUBCO, PSO, SSGC, HBL, NBP and UBL, were also trading in negative territory.
