Gold prices record increase in Pakistan

ISLAMABAD: Gold prices in Pakistan increased by Rs 4300 per tola on Thursday to reach Rs 358,400, All Pakistan Sarafa Gems and Jewellers Association reported.

According to market reports, The rates of one tola 24-karat gold increased by Rs Rs 4300 to Rs 358,400, whereas the price of 10 grams of gold jacked up by Rs3684 to Rs 307,270.

This upward trend aligns with the global market, where gold prices increased by $43per ounce, settling at $3400 per ounce.

The price drop reflects fluctuations in international demand and economic factors influencing the precious metal market.

Gold has long held a reputation as a symbol of wealth and a store of value. Beyond its traditional use in jewelry, the precious metal is widely regarded as a financial safe haven during times of economic uncertainty and geopolitical unrest.

In recent years, gold’s safe-haven status has been reaffirmed, as investors seek shelter from the storms of global economic and political instability.

Gold’s appeal as a safe-haven asset is not limited to institutional investors.

Individual investors, seeking to protect their wealth from market volatility and economic uncertainty, have also turned to gold.

The rise of online trading platforms and gold exchange-traded funds (ETFs) has made it easier for individuals to invest in gold, further boosting demand.