Report: Gold prices see sharp ups & downs

ISLAMABAD: Gold prices increased domestically and internationally and then fell sharply.

The price of gold in the country increased by more than 42,000 rupees on Wednesday and Thursday, after which gold became cheaper by 61,000 rupees per tola on Friday and Saturday.

This increase was a major increase in the country’s history and similarly, this was a record decrease in price over two days. On the other hand, gold became cheaper by $255 per ounce in the global market on Saturday.

After which the price of gold per ounce fell to $4,895. In the past few days, the price of gold had exceeded $5,000 per ounce for the first time. Like the price of gold, the price of silver also saw a historic increase.

However, after signs of improvement in the political situation in the United States, the prices of gold, silver and platinum all three decreased significantly over two days, but the prices are still much higher than last year.

Experts have attributed the first major reason for the increase in gold prices to the trade policies of US President Donald Trump. Due to these policies, investors have increased anxiety and they have turned to safe assets like gold.

The second major reason for the increase in gold prices is global political tension, the third reason for the increase in gold prices has been attributed to the large-scale purchase of gold by the central banks of various countries.