Gold prices in Pakistan climbed by Rs3,500 per tola on Wednesday, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The domestic rate moved up to Rs425,636 from Rs422,136 a day earlier. The same day, the Pakistan Stock Exchange (PSX) recorded gains and the rupee strengthened slightly against the US dollar.
The association said the price of 10-gram gold rose by Rs3,001 to Rs364,914. Internationally, gold gained $35 to reach $4,031 per ounce, based on rates the association cited. Silver also firmed locally, adding Rs61 to reach Rs5,854 per tola, according to a business newspaper’s report.
What drives bullion prices in Pakistan
Bullion rates are shaped by international prices, currency movements, investor demand and wider economic and geopolitical developments. Investors often treat gold as a store of value during uncertain times, although prices also depend on interest-rate expectations and the strength of the US dollar. Locally, the rupee-dollar exchange rate is among the factors used to set domestic bullion rates.
Also read: Gold prices rise in Pakistan as oil eases inflation worries
KSE-100 extends gains on the PSX
The PSX kept its positive momentum on Wednesday, with the benchmark KSE-100 index higher during the session. Figures supplied for the market close showed a rise of 1,269 points to 165,736 points. Online data from the exchange, however, put the index at 166,030.81 points, up 1,563.61 points, in an update at 3:05pm.
The discrepancy means the closing level still needs confirmation against the exchange’s final market data.
Rupee edges up against the dollar
The US dollar fell by three paisa to Rs276.77 in interbank trading, according to figures supplied for the market update. The rupee had closed at Rs276.80 on Tuesday, based on market reporting by a Pakistani daily. The movement was modest, with the exchange rate staying close to recent levels.
Moves in gold, equities and currencies came amid continuing investor attention to global economic conditions, new monetary policy and geopolitical developments.
