Gold Price in Pakistan Hits All-Time High
The Gold Price in Pakistan Hits All-Time High as global tensions and economic uncertainty drive markets upward. According to the All Pakistan Gems and Jewelers Association, the price of 24-carat gold per tola surged by Rs 1,200, reaching Rs 377,900 per tola — the highest ever recorded in the country’s bullion markets.
Latest Gold Price in Pakistan
Today’s significant increase in gold prices has caught the attention of both investors and everyday buyers. As per the Jewelers Association:
- The price of 24-carat gold per tola rose by Rs 1,200, reaching Rs 377,900.
- The rate of 10 grams of 24-carat gold also increased by Rs 1,029, now priced at Rs 323,988.
These sharp increases reflect the growing demand for gold as a secure investment option amid global financial concerns.
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Gold Price Surge in International Markets
This rise isn’t limited to Pakistan. In international bullion markets, gold prices have also climbed. The global price of gold increased by $12 per ounce, reaching $3,552 per ounce, another all-time high.
Such a global rise has a direct impact on local markets, especially in countries like Pakistan, where the price of gold is closely linked to international rates.
Why Are Gold Prices Rising?
Experts believe that several global factors are pushing gold prices upward:
1. Depreciation of the US Dollar
As the value of the dollar weakens, investors often turn to gold as a safer store of value. The falling value of the dollar makes gold cheaper for foreign investors, increasing demand.
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2. Geopolitical Tensions
Ongoing conflicts and rising tensions in regions like the Middle East and Eastern Europe have added to global instability. In times of political and economic uncertainty, gold becomes a preferred safe-haven asset.
3. Fears of Global Recession
With many economies struggling and fears of a potential global recession looming, investors are looking for secure options. Gold traditionally performs well during periods of economic slowdown.
What Economic Analysts Say
According to economic analysts, gold prices could rise even further if the current global situation continues. Persistent dollar weakness, ongoing conflicts, and fears of economic downturns are likely to keep the demand for gold high.
However, if the global economy stabilizes in the coming months and the dollar regains strength, there could be a partial correction in gold prices.
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