By Our Correspondent
Copyright pakobserver
KARACHI – Gold prices in Pakistan reached another historic high amid upward trend in international market on Wednesday.
According to the Saraffa Association, the price of 24-karat gold per tola stood at 388,1000 after an increase of Rs4,100 while the rate for 10 grams stood at Rs332,733.
Gold is a valuable commodity widely traded in global markets. Known for its rarity and durability, gold has been used for centuries as a store of value and hedge against inflation. It is traded in various forms, including physical bullion, futures contracts, and exchange-traded funds (ETFs).
Investors often turn to gold during economic uncertainty, as it tends to retain value when other assets decline. Major trading centers include London, New York, and Shanghai. Gold prices are influenced by factors like interest rates, currency strength, and geopolitical events, making it a crucial component of diversified investment portfolios.
In international market, the gold price stood at $3,654 per ounce after an increase of $41.
Today Gold Rate in Pakistan
Meanwhile, the rates of per tola and ten gram also moved up and stood at Rs.4,358 and Rs.3,736, respectively.
Market experts attribute the ongoing volatility to uncertain trends in global bullion trading and the fluctuating value of the Pakistani rupee against the US dollar.
