Karachi: Gold and silver prices in Pakistan recorded another increase today, driven by gains in international markets.
According to the All Pakistan Gems and Jewellers Association, the price of gold per tola increased by Rs. 3,400, reaching Rs. 539,962. Similarly, the price of 10 grams of gold rose by Rs. 2,915 to Rs. 462,930.
The association reported that in the international market, gold per ounce increased by $34, reaching $5,172, which also impacted local prices. Meanwhile, silver per tola rose by Rs. 192 to reach Rs. 9,286.
Experts say that ongoing global economic uncertainty and investor interest in gold as a safe-haven asset are expected to keep price fluctuations active in the coming days.
Gold is traditionally considered a safe investment, as its value usually rises during periods of inflation and political or economic instability. It has been used for centuries as a form of currency and a store of wealth. When investors feel uncertain about other assets, they often turn to buying gold.
In Pakistan, the method for determining gold prices was changed last year. Under the revised mechanism, the price of gold is set at $20 per ounce above the international market rate.
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