Pakistan Gold Prices Hit Record High as KSE-100 Index Drops

Gold prices in Pakistan reached a record high on Friday, increasing by Rs2,000 per tola to hit Rs440,636. This domestic surge followed a record close in the international market, where gold reached $4,181 per ounce. Silver prices also increased by Rs50 per tola to Rs6,578.

Simultaneously, the benchmark KSE-100 Index declined by 819.47 points, or 0.49%, trading at 167,817.38 points by 11:52am. Investors exhibited caution and selling pressure across the commercial banking, cement, and oil and gas sectors.

Market volatility occurred amid reports that the Federal government of the United States is deploying additional troops and aircraft carriers to the Middle East, prompting investors to shift toward safe-haven assets.