Steady gold prices
In keeping with the worldwide trend, gold prices on the Pakistani domestic market stayed steady on Wednesday.
Price of one tola of gold
According to data provided by the All Pakistan Gems and Jewellers Association, the price of one tola of gold remained constant at Rs275,200.
10-gram gold rate
The 10-gram rate price at the regional markets remained at Rs235,940.
No change in international bullion rates
Additionally, there was no change in the bullion rates on the international market, where the valuable metal was trading at $2,640.
Gold price fluctuations
After losing the previous two days, gold saw modest gains the day before. The selling price of gold surged by Rs700 per tola, hitting Rs275,200.
Price increase for 10-gram gold
The price of 10-gram gold increased by Rs600 as well, hitting Rs235,940 at the new rate.
KSE-100 Index performance
Early trading saw the standard for the KSE-100 Index surpass the 105,000 mark, indicating that the PSX (Pakistan Stock Exchange) was still on the rise.
Index rise
The index jumped 856.84 points, or 0.82%, to 105,415.91 before midday as investors maintained their out hope that the nation’s key policy rate will be further lowered.
Anticipation of rate cut by SBP
Growing market anticipation that the State Bank of Pakistan (SBP) will announce a significant rate drop at its next monetary policy meeting on December 16, 2024, are the reason for the record rise.
Research findings on potential rate drop
In light of improving economic indicators and a reduction in inflation, a research released Tuesday by Topline Securities indicates the central bank may lower the key policy rate by at least 200 basis points.
