Investors turn to gold after depreciation of dollar

PESHAWAR: The depreciation of the dollar has prompted significant investor interest in gold, resulting in a surge in the commodity’s price.

On September 7, law enforcement agencies took action by sealing more than 450 shops at Peshawar’s Currency Market Chowk Yadgar to stop the sale of dollars.

Gold price surges in Pakistan

One week after the closure of Peshawar’s largest currency market, investors have flocked to the gold market, leading to a substantial increase in demand that has caused gold prices to soar by thousands of rupees.

While the value of the dollar continues to decline, gold prices have experienced a sudden and notable rise. In the Peshawar market, the price of gold per tola now exceeds 235,000 rupees.