KARACHI – Gold prices in Pakistan have reached a record high on Thursday, witnessing a significant increase in the local market amid rising international prices.
Reports indicate that the per tola gold price has surged by Rs4,600 to an all-time high of Rs254,000. Similarly, the price of 10-gram gold has increased by Rs3,944, settling at Rs217,764.
In the international market, gold prices have also seen a substantial rise, gaining $60 to reach $2,470 per ounce. Dealers attribute this steep increase in gold prices to an anticipated interest rate cut by the US Central Bank and the rising popularity of Donald Trump ahead of the elections.
Gold Rates in Pakistan on July 19
Gold Rates Today | Price |
---|---|
Per Tola | Rs. 250,400 |
10 Grams | Rs. 217,764 |
Meanwhile, silver rates remained unchanged at Rs2,900 per tola.
The local market is responding to international trends, where investors are looking at gold as a safe-haven asset amid economic uncertainties and potential shifts in monetary policy. The increase in gold prices also reflects the devaluation of the Pakistani Rupee against the US Dollar, which further impacts the local pricing of gold.
In conclusion, the gold price in Pakistan on July 19, 2024, has seen a significant upward movement. This rise is influenced by both local and international factors, including the global economic outlook and currency fluctuations. Investors and consumers should stay informed about these trends as they can affect purchasing decisions and investment strategies.
Stay updated with the latest gold prices and market trends to make informed decisions in these fluctuating times.