Gold gains lustre on PMEX post budget

Gold prices on the Pakistan Mercantile Exchange (PMEX) have seen a notable increase following the recent budget announcement. This surge is attributed to the government's decision to maintain a relatively loose monetary policy, which has led to a decrease in the value of the Pakistani rupee. As a result, investors are seeking safe-haven assets like gold to hedge against potential inflation and currency devaluation. With the country's economic growth prospects looking uncertain, the gold market is likely to remain volatile in the coming weeks. The PMEX has witnessed a significant increase in gold futures trading, with prices rising by over 2% in a single day. As investors continue to assess the implications of the budget on the country's economic trajectory, gold prices are expected to remain a key area of focus.