Karachi: The upward trend in gold prices continues, as another increase has been recorded in both international and local markets.
According to the All Pakistan Sarafa Dealers Association, the price of gold in the local market has increased by Rs3,700 per tola, pushing the new price to Rs543,262 per tola. Meanwhile, the price of 10 grams of gold rose by Rs3,172, reaching Rs465,759.
In the international market, the price of gold also increased by $37 per ounce, bringing it to $5,205 per ounce.
Market experts say gold prices in Pakistan often move in response to fluctuations in the international market and changes in the value of the Pakistani rupee against the US dollar. They note that economic uncertainty, global geopolitical tensions, and investor demand for safe-haven assets frequently push gold prices higher. Presently the uncertainity across middle East has also contributed to price hikes.
Analysts further believe that continued volatility in global markets could keep gold prices unstable in the coming days, with investors closely monitoring international economic developments.
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