Today gold prices fell by 10 months in Pakistan. According to the All Sindh Saraf Jewelers Association, the gold prices fell by 1,500 rupees on Wednesday and hit a 10-month low in Pakistan. The price of a golden towel is now RS102,000. The last sale at this level took place on June 22, 2020. Gold prices are falling all over the world.
The value of this precious metal does not decrease until after the emergence of several vaccines against the new coronavirus. Vaccination has started in many countries, including the united states. But commodity expert Adnan agar says improving the Covid-19 situation does not reduce the value of gold. He believes cryptocurrencies, especially bitcoin, are also attracting investment.
Today Gold Prices In Pakistan:
The prices of other precious metals, including gold, increase in times of uncertainty like wars and disasters, as they are seen as a safe haven for investment. Their rates go down when we expect a stable period. When things aren’t going well for the economy and stocks, investors look for gold. The same thing happened with Covid-19 ep. That said, the price of bitcoin has been rising in recent times, making gold and other precious metals competitive. At the time of writing, the international price of gold was 1.1746 per ounce.
As the economy begins to recover, investors are flocking to the financial markets for gold and other metals. The situation in the united states, the world’s largest economy, plays a key role in influencing global gold prices. In March 2020, when countries around the world went into lockdown, began to rise internationally. In Pakistan, the price of a towel reached Rs122,000, peaking at 47,141 an ounce on 6 August.
Agar said gold prices would drop to a lower level before rebounding, then feeling slightly over the next few days. ”But the price of gold will not drop significantly”. He said the united states alone has provided a stimulus package of around a trillion dollars, so there is so much money in the market that if the price of gold is partially based, the market capitalization is also on the rise.