Gold and silver prices moved higher on Wednesday in Pakistan, mirroring gains in the international market, while the Pakistan Stock Exchange (PSX) rebounded sharply after two consecutive sessions of losses.
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According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs2,300 to reach Rs528,562. The rate of 24-karat gold per 10 grams also rose by Rs1,972, settling at Rs453,156.
Silver followed the same upward trend, with the price per tola climbing by Rs120 to Rs8,735. The cost of 10 grams of silver increased by Rs103, reaching Rs7,488.
In the global market, gold prices rose by $23 per ounce to $5,058, providing momentum to domestic bullion rates.
Meanwhile, the PSX witnessed a strong recovery during intraday trading. The benchmark KSE-100 Index surged by 1,208.42 points to 183,316.97 points, marking a 0.66 percent increase compared to the previous close of 182,153.55 points.
Market observers attributed the rally to renewed investor confidence and fresh buying activity after earlier bearish sessions this week.
