Gold prices in Pakistan are on the rise yet again, following a steady upward trend in the global bullion market. The price of gold per tola has hit Rs277,400, marking a notable increase driven by international market fluctuations and domestic demand.
Gold Price Update in Pakistan: December 10, 2024
As per the Sarafa Association, gold rates have seen the following changes:
| Gold Type | Old Price | New Price | Increase |
|---|---|---|---|
| Gold (per tola) | Rs276,400 | Rs277,400 | Rs1,000 |
| Gold (per 10 grams) | Rs236,968 | Rs237,826 | Rs858 |
This marks the second price hike this week, with a previous increase of Rs2,000 recorded on Monday.
What’s Driving the Gold Price Hike?
The ongoing increase in gold rates is largely tied to international market movements. Globally, the price of gold surged by $10 per ounce, bringing the bullion to $2,662 per ounce. Several factors contribute to this trend:
- Global Economic Policies:
China’s decision to introduce policy stimulus to bolster its economy has boosted investor interest in precious metals. As a result, global gold prices have seen steady growth. - Domestic Market Dynamics:
Local markets in Pakistan often mirror international trends while factoring in domestic demand. With gold remaining a preferred investment in times of economic uncertainty, demand continues to push prices upward.
Why Investors Prefer Gold Amid Economic Challenges
Gold has long been considered a safe-haven asset, especially during times of economic instability or inflation. With fluctuating currencies and global economic challenges, investors are leaning towards gold to secure their wealth. This has led to increased demand, both locally and internationally.
Conclusion
Gold prices in Pakistan are climbing, reflecting trends in the global market. Whether you’re looking to invest or simply keep up with the latest updates, staying informed about market rates is crucial. With the current hike, the precious metal remains a significant player in both local and international markets.
