Gold prices in Pakistan have increased for the second consecutive business day, following an increase in the international market. According to reports, the price of gold per ounce in the international market saw an increase of $10, reaching $1,936. As a result, the price of gold per tola in Pakistan increased by Rs. and ten grams of gold saw an increase of Rs. 600, bringing the price to Rs. 175,068.
This increase in gold prices is likely to impact the local market, including jewelry and investment sectors.
Gold prices are determined by various factors, including global demand and supply, the value of the US dollar, and geopolitical factors. Investors often view gold as a safe haven during times of economic and political instability, which can lead to an increase in demand and prices.
The current increase in gold prices may be attributed to uncertainty in the global market due to factors such as inflation concerns and the COVID-19 pandemic.
The increase in gold prices can have both positive and negative impacts on the economy. On one hand, it can lead to an increase in revenue for gold exporters and local gold markets.
On the other hand, it can also lead to inflation and a decrease in consumer spending. The impact of this increase in gold prices on the Pakistani economy remains to be seen.
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