KARACHI – Gold prices in Pakistan witnessed a decline for third consecutive day due to decreasing rates in the international market amid escalating Middle East tensions.
Data shared by All Pakistan and Gems showed per tola price dropped by Rs8,700 to settle at Rs524,562.
Similarly, the price of 10-gram gold plunged by Rs7,459, bringing new rate to Rs449,727 in local market.
The precious commodity recorded a significant dip in international market where per ounce rate hovers at $5,018 after a decline of $87.
Silver prices also witnessed downward trend as per tola rate dropped by Rs310 to settle at Rs8,541 on last of the business week.
Meanwhile, the Securities and Exchange Commission of Pakistan (SECP) has raised the investment ceiling for Sahulat Accounts from Rs 1 million to Rs 3 million, matching the limits currently permitted in the banking sector.
This change is designed to make investing in the stock market more convenient and accessible for small-scale retail investors. Additionally, the SECP now allows individuals to open Sahulat Accounts with multiple licensed brokerage firms, giving investors more flexibility in selecting their preferred brokers. Each investor, however, may hold only one Sahulat Account per broker, according to a statement released on Saturday.
The update brings the Sahulat Account framework in line with practices used in the banking and mutual fund industries. Originally launched to simplify market participation for small investors, the Sahulat Account enables users to open brokerage accounts by providing only their Computerised National Identity Card (CNIC), greatly reducing paperwork and procedural requirements.
