Gold prices drop continues in global and local markets

Gold prices have decreased in both international and local markets.

In the international bullion market, the price of gold per ounce fell by $9, bringing the new global price to $2,739.

Meanwhile, in local jewelry markets, the price of 24-carat gold per tola dropped by  Rs900, resulting in a new price of Rs283,400.

Additionally, the price of gold per 10 grams decreased by Rs771, setting the new price at Rs242,970.

Earlier the price per tola of 24-carat gold rose by Rs2,000, reaching Rs284,300 in local markets.

Similarly, the price of 10-gram gold increased by Rs1,714, bringing it to Rs243,741.

This price hike followed a $22 rise in the international bullion market, where gold reached $2,748 per ounce, impacting local rates.

On the other hand, the Pakistan Stock Exchange (PSX) has maintained its upward momentum, with the KSE-100 index hitting a new all-time high of 90,871 points during intra-day trading.

The bullish trend from the previous week carried over into the first business day of this week, as trading began with a surge of 646 points, pushing the KSE-100 index to 90,640 points.

This positive momentum continued, allowing the index to ultimately peak at 90,871 points, marking a total gain of 877 points.

Additionally, the Pakistan Stock Exchange experienced significant gains last week, surpassing 89,000 points and achieving the new milestone of 90,000 points.