On the first day of the new year, gold prices have increased in global and local markets.
In the international bullion market, gold rose by $10 per ounce, bringing the new global price to $2,624.
Meanwhile, the price of 24 carat gold rose by Rs 1,000 to Rs 273,600 per tola in the local bullion markets. Similarly, the price of 10 grams of gold also increased by Rs 857 to Rs 234,568.
Earlier, gold was priced per tola. Dropped It fell by Rs 600 to Rs 272,600, while the price per 10 grams fell by Rs 514 to Rs 233,711.
Gold prices hit historic highs in 2024. HeightDriven by central bank purchases including emerging markets and rising geopolitical tensions.
International prices touched $2,790 per ounce, while in Pakistan, prices rose to Rs 287,900 per tola, reflecting gold’s role as a safe-haven asset.
Key factors include heightened conflict in the Middle East and the lingering effects of the Russia-Ukraine war, as well as concerns over US debt sustainability and financial risks.
Central banks, particularly those in China, India and Turkey, increased their reserves, while slowing US inflation and falling interest rates further increased the appeal of gold.
As Pakistan’s gold market delivered 24% returns, outperforming other traditional investments such as property and the US dollar, analysts forecast further gains in 2025, with Goldman Sachs forecasting prices to reach $3,000 an ounce. said