KARACHI – Gold prices remained unchanged in domestic market of Pakistan on Wednesday in line with global trend.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold was traded at Rs275,200 without any change.
Similarly, the price of 10-gram rate also remained steady at Rs235,940 in local market.
The bullion rates also witnessed no change in international market where the precious commodity was traded at $2,640.
A day earlier, gold registered slight gains after suffering losses in previous two days. The per tola gold price increased by Rs700 to settle at Rs275,200.
Similarly, the price of 10-gram gold also surged by Rs600 with new rate reaching Rs235,940.
Meanwhile, Pakistan Stock Exchange (PSX) continued its upward momentum, with the benchmark KSE-100 Index crossing the 105,000 level during early trading.
Before noon, the index tgained 856.84 points, reaching 105,415.91, a 0.82% increase, as investors remained optimistic about a potential further reduction in the country’s key policy rate.
The record rally is attributed to growing investor expectations that the State Bank of Pakistan (SBP) will announce a substantial rate cut in its upcoming monetary policy meeting on December 16, 2024. A report from Topline Securities, published on Tuesday, suggests the central bank could reduce the key policy rate by at least 200 basis points, following improvements in economic indicators and a slowdown in inflation.
