This rise in gold prices is making people curious and a bit worried. Will it continue to go up, or is this a short-term change?
In the global bullion market, the price of gold per ounce increased by $3, reaching $3,330 per ounce. This rise in international gold prices has directly impacted the local gold markets in Pakistan.
In Pakistan’s local market, the price of 24-karat gold per tola (about 11.66 grams) went up by Rs300, now standing at Rs354,065. Similarly, the price of 10 grams of gold increased by Rs237, now reaching Rs304,068.
According to gold traders, whenever the price of gold changes in the international market, the effect is immediately seen in the local Pakistani market.
But that’s not all — silver prices have gone in the opposite direction!
The price of silver per tola has decreased by Rs26, now selling at Rs3,764. Similarly, the price of 10 grams of silver dropped by Rs22, now standing at Rs3,227.
Economic experts warn that in the coming days, prices of both gold and silver may continue to fluctuate. So, if you’re planning to invest in precious metals, keep a close eye on the global gold market and Pakistan’s local economic conditions.
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This rise in gold price might be good news for those who already invested earlier, but for new buyers or those saving for weddings or jewelry, this could be a costly time.
The global gold market seems to be showing signs of volatility, and even a small rise like $3 internationally is having a clear effect on the local market. The growing difference between gold and silver prices may be a signal for traders to adjust their strategies. With economic uncertainty and inflation fears in the background, gold remains a popular ‘safe haven’ for investors, which may be driving these increases. However, investors should tread carefully, as future price movements depend heavily on both international market trends and Pakistan’s own financial stability.
