Gold prices in Pakistan have risen once again, reflecting the uptick in international market prices. According to data from the Sarafa Association, the price of gold has increased by Rs 1,800 per tola, settling at Rs 219,800 on Friday. For 10 grams, the price rose by Rs 1,540, reaching Rs 188,440 compared to Thursday’s price of Rs 186,900. Meanwhile, silver prices have remained stable, with the price per tola at Rs 2,650 and 10 grams at Rs 2,271.94.
The surge in gold prices in the international market has driven the current price to $2,054 per ounce, reaching a three-week high. This increase is attributed to the decrease in the US dollar and bond yields. Additionally, US gold futures rose by 0.8% to $2,067.
Insight: The rise in gold prices in Pakistan can be attributed to a variety of factors, including demand from both investors and jewelry buyers, as well as global economic and geopolitical factors. Gold is often seen as a safe-haven investment during times of uncertainty, which could be influencing the current increase in prices. Additionally, fluctuations in currency exchange rates, particularly the US dollar, can also impact the price of gold in the local market.
