Pakistan Stock Exchange surges as gold prices fluctuate

The Pakistan Stock Exchange (PSX) saw a significant recovery on Friday, with the benchmark KSE-100 Index gaining over 1,800 points intraday to reach a high of 170,903.94 points. This surge was driven by improved investor sentiment following falling global oil prices and easing concerns regarding supply disruptions in Saudi Arabia and the US-Iran conflict.

In the precious metals market, gold prices in Pakistan experienced volatility. Following international trends, gold prices rose by Rs6,900 per tola to reach Rs460,336 on Friday, as investors monitored Middle East developments and US inflation data. This followed a previous downward trend on Thursday, where gold prices had dropped by Rs3,800 per tola due to global profit-taking.

Silver prices also fluctuated, seeing increases alongside gold on Friday. Market analysts noted that while the US Federal Reserve's interest rate policies influence demand, gold remains a critical hedge against inflation and a primary medium for wealth transfer and savings within Pakistan.