KARACHI – Gold registered losses on first day of the new business week amid downward trend in international market.
Data shared by All Pakistan Gems and Jewellers association showed per tola gold price plunged by Rs600, with new price settling at Rs272,600.
Similarly, the price of 10-gram gold decreased by Rs514, closing at Rs233,711 in local market.
The precious commodity witnessed slight losses in the international market where per ounce rate dropped by $6 to reach $2,614.
Meanwhile, the Pakistan Stock Exchange (PSX) witnessed massive bullish trend during intraday trading on Monday.
The KSE-100 gained 3,912 points to reach intraday high of 115,263.83 points with experts attributing the gains to macroeconomic stability and friendly monetary policies being made by the government.
The stock market had witnessed volatility in previous week when it closed at 111,351 points after gaining 927 points on Friday.
