KARACHI – Gold prices registered a significant increase in domestic market of Pakistan in line with rising global rates.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price surged by Rs5,300 to settle at Rs424,162.
Similarly, the price of 10-gram gold moved up by Rs4,544 to reach Rs363,650 in local market.
The precious commodity recorded an increase of $53 in international market where it is being traded at $4,018 per ounce.
On the other hand, the price of per tola silver soared by Rs158 to close at Rs5,192.
Meanwhile, the Pakistan Stock Exchange (PSX) bounced back with significant gains on Friday following a ceasefire agreement between Pakistan and Afghanistan Taliban, and a positive meeting between Chinese President Xi Jinping and US President Donald Trump.
During intraday trading, the KSE-100 index has gained whooping 2,746.62 points to reach 159,479.49 points, reflecting a change of 1.75 percent.
The recent local and international positive developments have lifted the investor confidence, triggering buying rally in stock market.
A day earlier, the KSE-100 recorded massive decline, losing 1,732.19 points, a negative change of 1.09 percent, closing at 156,732.87 points against 158,465.06 points on the previous trading day.
