{"id":14783,"date":"2023-03-19T16:12:38","date_gmt":"2023-03-19T16:12:38","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=14783"},"modified":"2023-03-19T16:12:38","modified_gmt":"2023-03-19T16:12:38","slug":"gold-price-rises-by-2-in-pakistan","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/gold-price-rises-by-2-in-pakistan\/","title":{"rendered":"Gold price rises by 2% in Pakistan"},"content":{"rendered":"<p>Gold price rises by 2% in Pakistan. In view of the ongoing political unrest in the country, the price of per-tola gold surged by 2% as investors flee to safe-haven assets.<\/p>\n<p>According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) surged by Rs4,100 per tola and Rs3,516 per 10 grams to settle at Rs208,300 and Rs178,584.<\/p>\n<p>Cumulatively, during the week ended March 18, the precious commodity gained Rs9,600, or 4.8%, per tola as gold barely responded to the appreciation of the Pakistani rupee against the US dollar. It managed to gain during all six sessions.<\/p>\n<p>As the other markets slide investors generally find refuge in gold to maintain a low-risk profile.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/business\/rupee-tumbles-by-nearly-rs19-against-dollar-in-interbank-amid-imf-delays.html\">Rupee tumbles by nearly Rs19 against dollar in interbank amid IMF delays<\/a><\/strong><\/em><\/p>\n<p>A likely economic contraction looms over Pakistan amid political and economic uncertainties and a holdup in the revival of the <a href=\"https:\/\/www.imf.org\/en\/Home\">International Monetary Fund<\/a>\u2019s (IMF) loan.<\/p>\n<p>The price of gold is Rs11,500 per tola \u201cundercost\u201d in Pakistan, as compared to the Dubai market, showing that the Pakistani gold market was currently cheaper than the global.<\/p>\n<p>It is likely to shine through the chaos as investors adopt a guarded stanc<\/p>\n<p>Meanwhile, silver prices in the domestic market jumped by Rs100 per tola and Rs85.73 per 10 grams to settle at Rs2,250 per tola and Rs1,929 per 10 grams, respectively.<\/p>\n<p>In the international market, gold prices surged more than 2% as a wave of banking crises shook global markets and put bullion on track for its biggest weekly rise in three years, while bets solidified for a less aggressive Federal Reserve in its fight against inflation. The per-ounce price settled at $1,989 after an increase of $53.<\/p>\n<p>&#8220;Gold is surging on fears that more bad banking news could appear over the weekend and hopes that the Fed will pause its rate hikes next week,&#8221; said Tai Wong, an independent metals trader based in New York.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold price rises by 2% in Pakistan. In view of the ongoing political unrest in the country, the price of per-tola gold surged by 2% as investors flee to safe-haven assets. According to data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) surged by Rs4,100 per tola and [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":14784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[6910,443,447,572,160,138],"class_list":["post-14783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-all-pakistan-sarafa-gems-and-jewellers-association","tag-dollar","tag-gold","tag-sbp","tag-imf","tag-pakistan"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/14783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=14783"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/14783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/14784"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=14783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=14783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=14783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}