Gold Prices Pakistan Reach Record High
The rising gold prices in Pakistan and internationally are a result of global economic uncertainty, with the price of gold per tola reaching a record high of Rs 314,000 and the international rate reaching $2,988 per ounce. This surge is expected to continue, driven by demand for safe-haven assets and predictions of an economic slowdown or stagflation.
Gold prices in Pakistan have surged to a record high, with the price of gold per tola reaching Rs 314,000, driven by demand for safe-haven assets amid global economic uncertainty. The international rate of gold also increased, reaching $2,988 per ounce with a premium of $20.
The current gold rate in Pakistan is Rs 314,000 per tola, and Rs 269,204 per 10 grams. This surge in gold prices is attributed to the demand for safe-haven assets due to concerns over tariff and a US inflation report that reinforced expectations of a future rate cut. Experts predict that an economic slowdown or stagflation will drive the demand and price of gold higher.
The increase in gold prices has been observed in both international and local markets. Internationally, gold per ounce increased by $27 to $2,942, while locally, the price of gold per tola rose by Rs 2,800 to Rs 309,300, and per 10 grams increased by Rs 2,400 to Rs 265,174. US gold futures were up 0.1% at $2,950.80, further indicating the rising trend in gold prices.
As the global economy continues to experience uncertainty, the demand for gold as a safe-haven asset is expected to increase, driving gold prices even higher. This trend is likely to continue, with experts predicting that gold prices will reach new heights in the coming days.
