On April 18, 2023, Pakistan witnessed a rise in the price of gold 24 karat per Tola and per 10 grams, with the former increasing by Rs300 to Rs217,400, and the latter by Rs257 to Rs186,385.
However, the international market saw a decline in gold prices, with the metal recording a decline of $3 to $2005. The rise in gold prices in the local market can be attributed to the ongoing economic and geopolitical uncertainties in the world.
Gold has always been considered a safe-haven investment during times of market volatility, as investors turn to it as a store of value. The ongoing economic and geopolitical uncertainties in the world, such as political instability in certain parts of the world, may have contributed to the rise in gold prices in Pakistan. These uncertainties have created an environment where investors are seeking safe-haven investments, such as gold.
The decline in gold prices in the international market, on the other hand, can be attributed to a number of factors. The global economy remains uncertain, with the ongoing trade tensions between the United States and China. Political instability in certain parts of the world, such as the Middle East, has also contributed to the decline in gold prices.
In comparison to gold, silver prices in the local market remained unchanged, with the rate of silver 24 karat per Tola ending at Rs2,530 and per 10 grams at Rs2,170. The rate of silver in the international market was $25.21. Like gold, silver is also considered a safe-haven investment, but it is more volatile due to its smaller market size and greater industrial use.
Investors are advised to carefully consider their investment options and seek professional advice before making any investment decisions. While gold and silver may be attractive investment options during times of market volatility, it is important to remember that they come with risks and are subject to market fluctuations. As such, investors must be well-informed and make investment decisions that align with their investment goals and risk tolerance.
