Thanks for your query.Based on the facts that you have posted it appears that you have hard spot detected by your family physician .
The hard spot detected on digital Rectal Examination
iwith elevated serum PSA is suspicious of cancer of the prostate
This can be confirmed only on taking multi core needle biopsy
of th prostate.and doing histopathological examination of the tissue from prostate.
Please consult qualified Urologist
for getting biopsy done and for further management.