KARACHI – Gold prices have continued to rise in both global and local markets to set new records amid geopolitical tensions.
Data shared by All Pakistan Gems and Jewelers Association showed the price of gold in the saw a notable surge of Rs10,900 per tola, bringing the new rate to Rs532,062.
Similarly, the price of gold per 10 grams rose by Rs9,345, pushing the rate to Rs456,175.
In the global market, gold prices also experienced a considerable increase, with the price per ounce exceeding $5,000. It witnessed an increase of $109 to climb to $5,097.
Meanwhile, there is another historic day at Pakistan Stock Exchange (PSX) as benchmark KSE-100 index soared past 191,000 mark for first time in history, as investors eagerly await Monetary Policy Committee (MPC) meeting today on Monday.
Around noon, KSE-100 index was trading at 190,521.41, climbing 1,354.59 points amid robust demand across automobile assemblers, cement, fertilizer, oil and gas exploration, OMCs, and power generation sectors.
Market watchers remain bullish ahead of the MPC, with Pakistan Kuwait Investment Company (Private) Limited noting that most analysts predict a 50-basis-point rate cut. Momentum is being reinforced by lower secondary market yields, rising remittances, new oil discoveries of 9,500 barrels per day, and defense deals exceeding $13 billion. Easing US-Iran tensions, coupled with growing defense cooperation with Saudi Arabia and Türkiye, are further lifting investor confidence.
