Gold prices fall by Rs1,300 to Rs277,500 per tola

Lahore: The price of 24 karat per tola gold on Monday decreased by Rs1,300 and was sold at Rs277,500 against its sale at Rs278,800, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold also went down by Rs1,115 to Rs237,911 from Rs239,026 whereas that of 10 gram 22 karat gold increased to Rs218.085 from Rs219,107.

The price of per tola and ten gram silver remained constant at Rs3,300 and Rs2,829.21, respectively.

The price of gold in the international market declined by $13 to $2,670 from $2,683, the Association reported.

Meanwhile, the Pakistan Stock Exchange (PSX) witnessed bullish trend as KSE-100 index gained 356.64 to close at 93,648.32 points.

During intra-day trading, the PSX made history as the KSE-100 index crossed 94,000 points barrier.

The benchmark KSE-100 index crossed 94,000 mark after gaining more than 700 points against previous close of 93,291 points.

The bulls’ rally in the PSX with significant gains of over 2,400 points during the last week, has been driven predominantly by the State Bank of Pakistan's (SBP) decision to lower its policy rate by 2.5 percentage points.