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What Factors Are Driving the Increase in Gold Prices Nationally?

In Pakistan, after an increase of 2200 rupees per tola, the price of gold crossed the national historical level for the first time, reaching 251,900 rupees per tola, closing at that level.

What Factors Are Driving the Increase in Gold Prices Nationally?

Experts in the gold trade say that the reason for the increase in the price of gold in the local market is international conditions. It is expected that there will be a decrease in interest rates this year by the Federal Reserve Bank of America, which is affecting the price of gold.

British media outlets have written, according to experts, that a decrease in interest rates means the dollar will weaken, and the price of gold will increase. Based on this possibility, the price of gold has risen internationally.

What are the reasons for the increase in the value of the dollar in Pakistan?

On the other hand, due to tension between Israel and Palestine and subsequently attacks from Iran, the price has also risen because in such situations, gold is considered a safer investment.

It should be noted that the price of gold in Pakistan has been increasing for the past several weeks. An increase in the price of gold has also been recorded in the international market, which is currently at $2391 per ounce.

Will the price of gold decrease or increase in the future?

The most influential organization in the gold industry, the World Gold Council, has linked the expected demand for gold in 2024 to the performance of the American economy and the elections in several countries in 2024.

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According to the World Gold Council, there is a 45 to 65 percent chance that the American economy will experience a slowdown or “soft landing” in 2024. If this happens, the demand for gold will have “ultra-potential flight”. This means that there will be an increase in gold prices.

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