Karachi: The All Pakistan Gems and Jewellers Association (APGJA) reports that Pakistani gold prices reached a historic peak today by increasing PKR 1,500 per tola. The recent price revision set gold at PKR 309,500 per tola while showing significant growth in the value of this metal.
The price of 10 grams of gold rose to PKR 265,346 after an increase of PKR 1,286. The upward trend of gold prices at the domestic level matches worldwide market movements, where international prices escalated USD 12 per ounce to USD 2,948.
Various economic conditions at domestic and international levels drive the upward trend of gold prices. The Pakistani rupee’s devaluation relative to the US dollar, together with continuous inflation, has created conditions for price increases.
Market participants tend to view physical gold as a stable store of value when economies face stressful circumstances and current worldwide tensions combined with market conditions have led investors to pursue gold more heavily.
We welcome your contributions to The Pakistan Observer. Submit your blogs, opinion pieces, press releases and news features to our editorial team.
Please send your submissions to our News Desk or Editorial team. We look forward to hearing from writers, journalists and contributors.
