Gold prices in Pakistan increased on Thursday, with 24-karat gold reaching Rs309,300 per tola after a rise of Rs2,800. This increase follows global market trends and economic factors affecting gold prices.
Key Highlights
- 24-karat gold per 10-gram is now Rs265,174, up by Rs2,400.
- 22-karat gold per 10-gram is priced at Rs243,085.
- Silver prices remain unchanged at Rs3,440 per tola and Rs2,949 per 10-gram.
Why Are Gold Prices Rising?
Gold prices in Pakistan change due to global market trends and currency movements. The All-Pakistan Gems and Jewelers Sarafa Association (APGJSA) confirmed that the recent price increase is linked to rising global gold rates. Currently, spot gold is trading at $2,946 per ounce, up by $8.3 or 0.28%.
The price increase is due to uncertainty in global markets. Concerns over tariffs and lower-than-expected U.S. inflation have raised hopes of interest rate cuts, leading to higher gold demand.
Gold Market Trends
- Support and Resistance: Gold faces resistance at $2,950, with support at $2,920.
- Moving Averages: The 50-day moving average shows a positive trend.
- Investor Sentiment: Demand is strong due to global economic concerns.
Expert Insights
Analysts believe gold prices may continue rising if inflation worries persist. “If the Federal Reserve lowers interest rates, gold prices could climb further,” said a market expert.
Conclusion
Gold prices in Pakistan are rising due to global trends and economic uncertainties. Investors should keep an eye on market movements for potential changes.
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