On Wednesday, Pakistan’s gold price skyrocketed, mirroring worldwide market movements.

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) released data showing that the price of 24-karat gold per tola increased by Rs2,300 in the local market, reaching its highest level ever at Rs288,700.

The price of 10 grams of 24-karat gold also went up by Rs1,972, to Rs247,513.

On Wednesday, the price of gold increased by $22 on the global market as well, reaching $2,763 per ounce with a $20 premium.

Silver prices in the local market increased by Rs28 to Rs3,391 per tola.

Selling pressure persisted on the Pakistan Stock Exchange (PSX), as the benchmark KSE-100 Index hovered at 111,528 points following a loss of nearly 500 points on Wednesday.

There was selling pressure in the index-heavy energy sector, which includes refineries, power production, OMCs, and companies involved in oil and gas exploration. HUBCO, SHEL, SNGPL, MARI, OGDC, PPL, and POL were among the important equities that had negative trading.

Liquidity had dried up to maintain the PSX’s previous upward trend, according to analysts.

State Bank of Pakistan (SBP) Governor Jameel Ahmad declared Monday that the central bank will begin issuing new currency notes in the second half of 2025.

One denomination at a time, these new notes with enhanced security features will progressively replace the present series.

The SBP wants to get the federal cabinet to approve the new notes in the next two to three months, ideally by June 2025, Ahmad clarified.

Instead than introducing all the denominations at once, the rollout will happen gradually.

Ahmad did not, however, indicate which denomination would be made available first, saying that the choice has not yet been made. The current denominations of Pakistani currency notes are Rs. 10, Rs. 20, Rs. 50, Rs. 100, and Rs. 500 Rs1,000, and Rs5,000.