KARACHI: The gold has touched an all-time high in Pakistan, with prices recording a significant surge across the country.
According to the All Pakistan Gems and Jewellers Association, the price of gold rose by Rs. 4,700 per tola, reaching Rs. 391,000. Similarly, the price of 10 grams of gold increased by Rs. 4,030, bringing it to Rs. 335,219.
Meanwhile, in the international market, gold gained $49, climbing to $3,692 per ounce.
Earlier, Gold prices in Pakistan are likely to move up and down on Monday, following the same trend as the international market.
The Saraffa Association reported that the price of 24-karat gold opened at Rs386,300 per tola on the first day of the business week, while the price for 10 grams was Rs331,189.
Gold is considered a valuable metal around the world because of its rarity and long-lasting nature. For centuries, it has been used as a safe investment and protection against inflation. It is traded in different ways, such as physical gold, futures contracts, and exchange-traded funds.
People usually invest in gold during uncertain economic times since it holds its value when other assets lose worth. Major markets for gold trading are London, New York, and Shanghai. Its price depends on factors like interest rates, currency values, and global political situations, which is why it is an important part of investment portfolios.
