Stability in Gold Prices Against Global and Local Markets in Pakistan

The gold market remained calm in both international and local markets, with prices showing no significant fluctuation. The current prices in Pakistan's jewelry markets reflect the stability in the precious metal, maintaining investor confidence in the market.

Prices of gold and silver have remained steady, with the cost of 24-carat gold per tola in local jewelry markets holding firm at Rs278,800. The price per 10 grams has also remained unchanged at Rs239,026. Similarly, the price of silver per tola has not budged from Rs3,300, and per 10 grams from Rs2,829.21. In contrast, a recent trend in the global gold market, influenced by the US presidential election, had seen a spike in gold prices initially, but the prices have since stabilized. However, the country's connection to the US dollar saw a slight impact, with prices previously falling by Rs5,400 per tola before bouncing back. This demonstrates the delicate balance of factors influencing the gold market. As the global markets continue to experience fluctuations, the gold market in Pakistan will remain sensitive to changes in the US dollar and global trends. In a separate development, Pakistan's stock market enjoys a milestone, with the Pakistan Stock Exchange (PSX) reaching 93,514.56, fueled by improving global market sentiments, declining local lending rates, and an increased weight of the MSCI Frontier Market Small Cap Index.