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Gold continues to shine, price rises by Rs900 per tola in Pakistan

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  • Gold price settles at Rs145,400 per tola.
  • Price increases by 772 per 10 grams.
  • Yellow metal gains $42 per ounce in global market.

KARACHI: Gold continued to shine with the precious metal seeing an increase of Rs900 in its price on Friday in line with an uptrend in the international market and depreciating Pakistani rupee.

According to rates released by the All Sindh Sarafa Jewellers Association (ASSJA), gold prices in the local bullion market rose by Rs900 per tola to reach Rs145,400.

While the price of 10 grams of gold increased by Rs772 to reach Rs124,657.

A day earlier, the precious commodity closed at Rs144,500 per tola and Rs123,885 per 10 grams.

In the international market, bullion prices rose by $42 per ounce to settle at $1,724 — once again rising above the key level of $1,700.

Gold rates in Pakistan are around Rs3,000 below the cost compared to the rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,580 per tola and Rs1,354.60 per 10 grams today.

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SIFC-Assisted OGDCL Commences Gas Production in Uch Every day, OGDCL contributes 5 million SCF to the national grid.

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The chronic gas deficit is being addressed by Oil & Gas Development Company Limited, which produces 5 million standard cubic feet of gas each day.

In the Uch region of the Dera Bugti District of Balochistan, Oil & Gas Development Company Limited has started producing gas with the assistance of the Special Investment Facilitation Council.

The company used its technological abilities to drill a well and successfully find gas at a depth of 1,345 meters.

An improvement in the energy industry is the company’s enhanced financial performance, which has resulted in a profit of 41.02 billion rupees.

In order to promote sustainable growth and strengthen national energy security, Oil & Gas Growth Company Limited is still committed to growing production.

Together with the Special Investment Facilitation Council, OGDCL’s strategic initiatives are essential to the energy sector’s future.

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The KSE-100 Index surpasses 102,000 points as the PSX begins the week on a high note.

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For the first time in recent memory, the benchmark KSE-100 Index broke beyond the 102,000 point level, kicking off the new trading week on a high note for the Pakistan Stock Exchange (PSX).

The index rose 835 points as of the morning session, hitting a new high of 102,192 points with an intraday peak of 102,288 points.

After a strong close to the previous week, when the index closed at 101,357 points, the PSX has continued its recent bullish performance with this upward trajectory.

Growing investor optimism has propelled the market’s rally, which has been supported by improved macroeconomic conditions, declining bond yields, and the ongoing flood of foreign capital into stocks.

The PSX has been strong because of a number of important elements. Since May 2024, the State Bank of Pakistan has lowered interest rates by a total of 700 basis points, which has improved market sentiment.

Mutual funds have invested more than $132 million in Pakistani stocks since January, indicating a move in investor preferences away from bonds and toward stocks.

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NMDA Humanitarian Aid: Damascus Receives 21st Shipment of Aid for Gaza and Lebanon

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Following a chartered flight from Nur Khan Base yesterday, the 21st shipment of humanitarian aid for war-affected and displaced persons in Gaza and Lebanon has successfully landed in Damascus. The shipment contained 17 tons of relief supplies provided by NDMA.

Pakistan’s ambassador in Damascus, Air Marshal (R) Shahid Akhtar, accepted the aid.

In regards to aiding the war-torn populations of Palestine and Lebanon, the Government of Pakistan is unwavering in its resolve.

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