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KARACHI: Gold extended gains in the domestic market of Pakistan as the per tola price increased by Rs2,200 on Thursday.
Data shared by All Pakistan Gems and Jewellers Association showed per tola gold price settled at Rs241,100 after witnessing a significant increase.
Similarly, the price of 10-gram gold went up by Rs1,886 to settle at Rs206,704.
The international market also saw an upward trend as per ounce gold price increased by $21 to close at $2,311.
Meanwhile, silver prices also saw an increase as per tola price surged by Rs40 to reach Rs2,6150 while the price of 10-gram closed at Rs2,271.94 after an increase of Rs34.29.
A day earlier, Gold Prince moved up by Rs1,800 to settle at Rs238,900. Meanwhile, the price of 10 grams of 24-karat gold also saw an increase of Rs1,543 to Rs204,818.
Moreover, Pakistan’s stock market soared to a new record high of 68,000-mark on Thursday. Stock Exchange saw a bullish run in early trade, leading to a new record being created in the benchmark 100 index. The market gained over 470 points in the opening session to reach 68,229 points, a new record.
The cement and steel sectors continue to be popular choices for investment during the current bullish trend. The slight decrease in inflation has revived expectations that the central bank might begin slashing soaring interest rates.