Gold reaches Rs273,400 per tola in Pakistan

Gold prices in Pakistan remained unchanged on Monday, mirroring the stability observed in global markets.

As reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold maintained its price at Rs273,400 per tola and Rs234,396 for 10 grams.

After a rise of Rs2,100 per tola on Saturday, the international gold price also remained steady at $2,622 per ounce, with a $20 premium. Silver prices held steady at Rs3,350 per tola.

The Pakistan Stock Exchange (PSX) experienced a significant rally on Monday, with the benchmark KSE-100 Index rising by 4,411.27 points, closing at 113,924.41 points, a gain of 4.03%. This marks the second-largest single-day increase in the history of the index in terms of points.

During the session, the KSE-100 Index reached an intraday high of 114,189.71 points. Broad-based buying was observed across key sectors, including automobile assemblers, cement, chemicals, commercial banks, fertilisers, oil and gas exploration, and power generation. Prominent stocks such as HUBCO, PSO, MARI, OGDC, and HBL performed positively.

The rally followed a recent 200 basis point rate cut by the central bank, which lowered the policy rate to 13%, marking a cumulative reduction of 900 basis points from its peak.

According to Topline Securities, the market’s rebound was fueled by reduced mutual fund selling and speculation about improved market conditions.