Pakistan’s gold market witnessed a significant surge in prices for the third consecutive day, according to the All Pakistan Sarraf Jewellers Association. The price of gold per tola increased by Rs. 1,000, reaching Rs. 5,23,762. The global market saw a decrease in gold prices by $18, dropping to $5,000 per ounce. As a result, the price of 10 grams of gold in the country increased to Rs. 4,49,041.
The global market witnessed a $10 increase in gold prices, reaching $5,010 per ounce. The association announced a new strategy focusing on three key sectors. The 100 Index closed at 1,50,016 points on the last day of business.
The ongoing war in the Middle East is affecting Pakistan’s cotton prices. Despite the tension in the region, the global market did not witness a significant increase in gold prices, which is an unusual phenomenon according to experts.
In a statement, the government said that they had postponed two cargo shipments per month for this year, and the supply of LPG from Qatar was completely suspended from March 2. The Secretary of Petroleum stated that the supply of petroleum was affected due to the tension in the Middle East.
Chairman of the Cotton Ginners Forum, Ihsan ul Haq, said that there is a rapid increase in cotton prices. On the last day of business in the previous week, the 100 Index closed at 1,53,866 points.
A slight improvement was seen in the senses of the Indian market, while Pakistan’s gold market continued to witness a sharp decline in prices for the third consecutive day. The DG of ISPR said that the drones used against Pakistan were provided by India. Several areas in Israel were targeted by Iranian missiles.
A message shared on Instagram by Usman Khawaja stated that his third daughter, Amira Maya, was born on March 13. Israeli President called the new Iranian ballistic missile a significant challenge.
Russia has condoled the death of Ali Larijani, the head of the Iranian National Security Council.
A large number of government officials, military leaders, and people from various walks of life attended the funeral, according to the state news agency.
