Gold Prices Continue to Surge Globally and Locally
Gold prices have witnessed a sharp increase, with both international and domestic markets experiencing significant gains. On Monday, the global bullion market saw a $12 rise per ounce, pushing gold to a new peak of $2,948.
Gold Prices in Pakistan – Latest Updates
In Pakistan’s local jewelry markets, gold followed the international trend, recording a notable increase. The price per tola surged by Rs1,500, reaching a new high of Rs309,500. Similarly, the price per 10 grams rose by Rs1,286, setting a new rate of Rs265,346.
Factors Driving the Gold Price Increase
Several global economic factors contribute to the rising value of gold:
- Inflation Concerns: Investors are turning to gold as a hedge against inflation.
- Currency Fluctuations: Changes in currency valuations impact gold prices globally.
- Market Uncertainty: Economic instability drives demand for gold as a safe-haven asset.
Recent Gold Market Trends
Gold prices had recently rebounded after a brief dip, both globally and in Pakistan. Earlier, the international bullion market saw a $6 increase per ounce, bringing the price to $2,936.
As economic uncertainties persist, gold continues to be a preferred investment for many. With prices reaching new highs, investors and jewelry buyers are closely monitoring market trends.