Gold lost ground in Pakistan on Tuesday as investors turned toward equities, while the stock market achieved a historic milestone.
Figures shared by the All Pakistan Gems and Jewellers Association showed that the price of gold per tola fell by Rs1,100, bringing it down to Rs356,600. Prices for 10 grams also slipped by Rs943, now standing at Rs305,727.
The international market mirrored the same trend, where gold declined by $11 to close at $3,339 an ounce. Traders linked the fall to easing inflation pressures and expectations of steadier growth.
In contrast, the Pakistan Stock Exchange (PSX) saw another day of sharp gains, with the KSE-100 index rising more than 1,000 points to reach 149,211.15. This marked the first time the index crossed the 149,000-point barrier.
The surge built on Monday’s performance, when the index climbed by 1,704.79 points, closing at 148,196.42.
Trading volume remained high, with more than 610 million shares valued at Rs39.17 billion changing hands. Out of the companies involved, 283 advanced, 175 retreated, and 29 stayed unchanged.