Investors Shift to Stocks, Gold Declines in Pakistan
Gold prices in Pakistan dropped on Tuesday, reversing the upward movement seen a day earlier in both local and international markets.
According to data released by the All Pakistan Gems and Jewellers Association, the price of gold per tola fell by Rs1,100, settling at Rs356,600. Similarly, the price of 10 grams decreased by Rs943, reaching Rs305,727.
Internationally, gold also declined, slipping by $11 to close at $3,339 per ounce. Analysts said the fall in prices came amid improving economic indicators and investor interest shifting toward equities.
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The Pakistan Stock Exchange (PSX) continued its strong rally, crossing the 149,000-point level for the first time in history. The benchmark KSE-100 index gained over 1,000 points during trading, touching 149,211.15 points by the end of the day.
On Monday, the index had already surged by more than 1,700 points, closing at 148,196.42 points.
Trading activity remained robust, with over 610 million shares worth Rs39.17 billion exchanged. Out of 487 listed companies, 283 recorded gains, 175 declined, and 29 remained unchanged.
