Gold prices drop in Pakistan, PSX surges past 165, 000 points

KARACHI: Gold prices in Pakistan witnessed a decline on Monday due to the downward trend in the international market.

The report said that the price of 24-karat gold decreased by Rs 1,400 to Rs 444,900 and the price of 10 grams decreased by Rs 1,200 to Rs 381,430.

The price of the precious commodity in the international market recorded a decrease of $ 17 where the rate per ounce hovered at $ 4,235.

The price of silver also recorded a slight decrease as the price per tola decreased by Rs 12 to settle at a new price of Rs 5,261.

In the previous session, gold lost its winning streak on Saturday as it recorded a significant decline.

According to data shared by the All Pakistan Gems and Jewelers Association, the price of gold per tola decreased by Rs 10,600 to settle at Rs 446,300.

Similarly, the price of 10 grams fell by Rs 9,088 to Rs 382,630.

On the other hand, the Pakistan Stock Exchange (PSX) started the new trading week on a very positive note, with the benchmark KSE-100 index gaining 1,289.79 points in early trading on Monday.

The index climbed to 165,096.00 points, reflecting a solid 0.79 percent gain from the previous close of 163,806.21.

This bullish start signals renewed investor confidence as market participants respond positively to improving macroeconomic signals and expectations of stability. The strong upward momentum also indicates increased buying activity in key sectors, which pushed the index beyond the 165,000 mark.