Gold prices increase again in Pakistan

KARACHI: The price of gold has further increased across the country, making it difficult for consumers to purchase the precious commodity.

 With the increase in the price of gold by Rs 1300 rupees per tola, the price of 24 karat gold has soared to Rs 212,400 per tola.

Additionally, the price of 10 grams of gold has surged by Rs 1115, bringing the price of 10 grams to 182,099 rupees.

This significant spike in gold prices comes amidst a backdrop of global economic uncertainty and geopolitical tensions, driving investors towards safe-haven assets such as gold.

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Analysts attribute the rise in gold prices to various factors, including inflationary pressures, fluctuations in currency values, and geopolitical instability.

The increase in gold prices also raises concerns about its impact on inflation and overall economic stability. Higher gold prices can contribute to inflationary pressures, potentially leading to increased costs of living for consumers.

Furthermore, the fluctuation in gold prices may have implications for Pakistan’s currency markets, as the value of the Pakistani rupee may be influenced by changes in global gold prices.