Gold prices continued their upward trajectory on Friday, reaching record-breaking levels in both domestic and international markets. According to the All Pakistan Saraf Association, the price of one tola of gold increased by Rs500, hitting a new high of Rs473,362. Similarly, the rate for 10 grams of gold rose by Rs429, bringing it to Rs405,831, marking the highest levels ever recorded in the country.
The surge in local gold prices mirrors trends in the global bullion market. Internationally, the price of gold rose by $5, reaching $4,510 per ounce, indicating strong demand and positive momentum for the precious metal worldwide. Alongside gold, silver prices also witnessed a significant increase, jumping by Rs240 per tola and reaching a fresh peak of Rs7,945. These rises highlight a continued bullish sentiment in precious metals, driven by both market factors and investor interest.
Meanwhile, the Pakistan Stock Exchange (PSX) opened on a positive note, reflecting optimism in equities alongside gains in the commodity market. The KSE-100 index climbed to 172,221.82, up 1,391.60 points, or 0.81%, from its previous close of 170,830.22. This rise indicates a healthy market performance and suggests ongoing investor confidence in the economic outlook.
Analysts note that the simultaneous growth in gold, silver, and stock market indices demonstrates a balanced trend in Pakistan’s financial landscape. While precious metals attract investors seeking safety and hedging options, the stock market’s upward momentum signals optimism about corporate earnings and overall economic stability.
Also Read: Record Gold Prices Spark Investor Excitement Worldwide
Overall, Friday’s market activity underscores the continued strength of gold and silver prices, coupled with a buoyant equity market. Investors are closely watching these trends, as both domestic and international factors continue to influence Pakistan’s financial markets, making it a noteworthy period for trading and investment decisions.
