On April 17, 2023, gold prices in Pakistan rose due to a rise in the international market. The price of gold 24 karat per Tola increased by Rs1100 to Rs217,100, while the rate of gold 24 karat per 10 grams increased by Rs943 to Rs186,128.
The price of gold 22 karat per 10 grams was recorded at Rs170,618.
The rise in gold prices in Pakistan on April 17, 2023 can be attributed to the ongoing economic and geopolitical uncertainties in the world. Gold is often considered a safe-haven investment during times of market volatility, as investors tend to turn to it as a store of value. This is why gold prices tend to rise during times of economic turmoil or geopolitical uncertainty.
The international market also saw a rise in gold prices, with the metal recording an increase of $5 to $2008. The rise in gold prices in the international market can be attributed to a number of factors, including uncertainty in the global economy and political instability in certain parts of the world.
On the other hand, the price of silver 24 karat in the local market declined by Rs40 to Rs2,530 per Tola. The rate of silver 24 karat per 10 grams ended at Rs2,170. The rate of silver was $25.40 in the international market. Silver prices are often influenced by the same factors that affect gold prices, as it is also considered a safe-haven investment. However, silver tends to be more volatile than gold due to its smaller market size and greater industrial use.
In conclusion, the rise in gold prices in Pakistan on April 17, 2023 reflects the ongoing uncertainty in the global economy and the continued appeal of gold as a safe-haven investment. Investors are advised to carefully consider their investment options and seek professional advice before making any investment decisions.
