The price of Gold increased again in Pakistan as the local bullion market recorded another rise. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola went up by Rs1,300.
With the latest increase, the price of Gold per tola reached Rs541,262 in the local market. The new rates were reported across major cities in the country.
Market analysts say the upward trend has continued since February 18. The rise in Gold prices is linked to global market developments and ongoing geopolitical tensions.
According to the association, the price of 10 grams of gold also increased. It went up by Rs1,114 and reached Rs464,044 in the domestic market.
Traders say that the bullion market has seen steady movement in recent days. Many investors are closely watching the Gold market due to uncertainty in global conditions.
International market trends also played a role in the latest increase. The global price of gold rose by $13 per ounce. After the increase, the international rate reached $5,185 per ounce.
Experts say international developments often influence local gold prices in Pakistan. When global prices rise, local markets usually follow the same trend.
The ongoing tensions between Iran and the United States have also affected global financial markets. Such geopolitical situations often push investors toward safer assets like Gold.
As a result, demand for the precious metal has remained strong worldwide. Increased demand can lead to higher prices in both international and local markets.
Jewellery traders say the latest rise may impact buyers planning purchases. Higher Gold prices usually reduce consumer demand for jewellery in the short term.
However, many investors continue to see gold as a stable store of value. This is especially true during periods of economic or political uncertainty.
Bullion market experts believe the price trend will depend on international developments in the coming days. Changes in global economic conditions may influence Gold prices further.
In other news read more about: Gold Prices Rise in Pakistan as Global Market Gains
For now, the latest increase has once again pushed the cost of Gold higher across Pakistan. Traders and investors are closely monitoring market movements for the next update.
