Tag: trading insights

  • Gold sees Rs1,800 per tola dip in local market

    Gold sees Rs1,800 per tola dip in local market

    Gold continued its decline for the second consecutive session on Thursday, mirroring the international downtrend.

    In the local market, the price of gold reached Rs218,200 per tola, registering a loss of Rs1,800 during the day.

    According to data from the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gramme gold was traded at Rs187,071, reflecting a decrease of Rs1,543.

    Notably, Wednesday witnessed a Rs1,300 decrease in gold prices per tola in Pakistan.

    The international gold rate, accompanied by a $15 decline in the global market, stood at $2,067 per ounce on Thursday, with a $20 premium, as reported by APGJSA.

    In a parallel development, silver experienced a modest decline of Rs20, settling at Rs2,660 per tola.

  • PSX faces record single-day plunge, shedding 2,534 points 

    PSX faces record single-day plunge, shedding 2,534 points 

    On Tuesday, Pakistan Stock Exchange’s (PSX) KSE-100 index experienced a significant downturn, plummeting by 2,534 points, or 4.11 per cent, culminating in a closure at 59,171—a record for the largest single-day drop in absolute points. 

    Since its zenith on December 13, the index has incurred a substantial loss of 7,923 points, reflecting an 11.81 per cent decline.

    The market correction intensified during today’s session, attributed to pronounced selling pressures in the final week of the year, compounded by prevailing political uncertainty. 

    In the latest session, the index showcased a wide trading range of 2,607.74 points, registering an intraday high of 61,634.55 (down by 70.54 points) and a low of 59,026.81 (down by 2,678.28 points). The total volume of the KSE-100 index reached 396.481 million shares.

    Within Tuesday’s session, 5 out of the 100 index companies closed higher, 91 closed lower, 1 remained unchanged, and 3 were untraded. 

    The decline of the KSE-100 index was particularly influenced by sectors such as oil and gas exploration companies (-508.87 points), commercial banks (-386.15 points), power generation and distribution (-271.96 points), cement (-211.88 points), and fertiliser (-194.77 points).

  • Gold price in Pakistan surge with global trend, reach Rs216,500 per tola

    Gold price in Pakistan surge with global trend, reach Rs216,500 per tola

    On Friday, gold prices in Pakistan experienced a notable uptick, mirroring the global surge in rates. 

    The precious metal attained a value of Rs216,500 per tola, marking a substantial single-day increase of Rs2,200. 

    As reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold reached Rs185,614, reflecting a rise of  Rs1,886. 

    This shift follows a decline of Rs500 in gold prices on Thursday, settling at Rs214,300 per tola. 

    According to APGJSA, the international gold rate exhibited a $20 increment on Friday, reaching $2,006 with a $20 premium. In comparison, the previous day witnessed a closing rate of $1,986. 

    In contrast, silver prices remained steady at Rs2,550 per tola on the same day, exhibiting resilience in the face of fluctuations observed in the gold market.