In an interested development, gold prices in Pakistan have risen by Rs1500 per tola after international market of gold price fluctuated.
Globally, the gold prices witnessed a significant increase on Monday with the gold prices in the world arising by $12. After this increase the current gold price, internationally, is set at $2,948.
Expectedly, international fluctuation in gold prices directly impact the local gold prices in Pakistan as Pakistan witnessed an upward trend in jewellery markets.
Price of gold in Pakistan went up by Rs1,286 per ten grams, reaching at the new price of Rs265,346. As of recently, global demands and complex economic factor have driven the prices of gold at new heights.
Reason behind increase in gold prices in Pakistan
As the world grapples with inflation concerns, investors are increasingly leaning towards gold as a safe investment amidst an uncertain market and fluctuations in currencies.
Hence, the gold prices in Pakistan rose significantly. According to All Pakistan Gems and Jewelers Association, the new gold price in Pakistan is Rs309,500 per tola on Monday.
It merits a mention that gold prices have made a comeback globally and locally after a brief decline as the prices of gold increased by $6 per ounce.
Read more: last week’s gold prices trend.
