Gold prices rise both locally and globally

Gold prices have witnessed an upward trend in both global and local markets.

In the international bullion market, the price of gold per ounce increased by $5, bringing it to a new level of $2,645.

Meanwhile, in local markets, the price of gold per tola surged by 500 Pakistani Rupees, reaching Rs 275,600. Additionally, the price of gold per 10 grams increased by Rs428, settling at Rs236,368.

On the other hand, Pakistan Stock Exchange (PSX) continued to enjoy its record-eclipsing streak on Thursday as the KSE-100 index surged past 106,000-point mark, gaining more than 1,500 points as a rally fueled by positive economic indicators and lower inflation rates continued.

The benchmark KSE-100 index rose by 1,533.30 points, or 1.46%, reaching 106,637.63 points, up from the previous close of 105,448.05 points.

The rally comes after Pakistan’s annual inflation rate dropped to 4.9% in November, the lowest level since 2017.

The market saw significant activity, with a trading volume of 285,847,491 shares and a value of 16.21 billion Pakistani rupees.