Market analysts said investors were moving out of the US dollar and long-term bonds and investing in gold. The dollar was near three-week lows against the euro and Swiss franc, while Asian stock markets fell for a third straight day.
KARACHI: The gold prices in Pakistan per tola have increased by Rs 12,700, with one tola of gold now exceeding Rs 500,000.
Gold per tola has reached a new historical high of Rs 506,362 for the first time, 10 grams of gold has become more expensive by Rs 10,888 to Rs 434,123.
Due to increasing political uncertainty and economic concerns at the global level, the price of gold has created a new history.
On Wednesday, the price of gold per ounce in the global market crossed $ 4,800, which is the highest level ever.
The increasing demand for safe-haven investments (safe-haven) and the weakness of the US dollar pushed gold prices up.
Market analysts said investors were moving out of the US dollar and long-term bonds and investing in gold. The dollar was near three-week lows against the euro and Swiss franc, while Asian stock markets fell for a third straight day.
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