KARACHI – Gold registered losses in Pakistan on Monday, the first day of the new business week, in line with downward trend in international market.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price decreased by Rs500 to settle at Rs243,900.
Similarly, the price of 10-gram declined by Rs429 to reach Rs209,105.
In international market, the gold price dipped by $2 per ounce to close at $2,335.
On Saturday, the per tola gold price decreased by Rs600 to close at Rs244,400 whereas the price of 10-gram gold dropped by Rs514 to settle at Rs209,534.
Meanwhile, Pakistan Stock Exchange (PSX) advanced its bullish momentum on first working day, as the benchmark KSE-100 Index crossed the 73,000 level for the first time in history.
The process to secure another IMF package, expected cut in interest rates and other factors related to economic optimism contributed to PSX record rally. Amid the signs of economic recovery, the market is witnessing a buying spree.
As soon as the business started, the buyers were on the rampage taking the benchmark KSE-100 index to another historic mark, smashing through the 73,000 psychological barrier.
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