Gold Tops $5,000 as Pakistan Stocks Sink, Rupee Holds Near 280

Overview

• International spot gold traded above $5,000 per ounce, quoted around $5,020 in one report and $5,035 in another.
• Local per-tola gold was reported between Rs524,762 and Rs526,262, reflecting different timing and sources on the same rally.
• The KSE-100 index fell about 1,700 points to roughly 182,300, erasing an estimated Rs172 billion in market value.
• Selling pressure was noted across automobiles, cement, commercial banks, oil and gas exploration, and oil marketing companies.
• The rupee was steady near Rs280 to the dollar (about 280.75 open market and 279.85 interbank), while the euro, pound, Saudi riyal, and UAE dirham edged up; local silver held at Rs8,615 per tola.