As the new week unfolds, the price of gold in Pakistan has shown remarkable stability, unaffected by the prevailing political uncertainty in the region.
According to data released by the Karachi Sarafa Association, the price of 24-carat gold remained unchanged at Rs. 214,300, with the price of 10 grams standing at Rs. 183,728 on Monday.
This steadfast pricing suggests a resilience in the local gold market, holding its ground despite the unsettled political atmosphere.
Last week saw a notable decrease in the price of gold by Rs. 1,700 per tola, a decline attributed primarily to the downward trend in the international market. However, the current week has accompanied in stability, demonstrating the ability of the local gold market to maintain its equilibrium despite external factors.
On the global stage, the situation mirrors this stability, with spot gold registering a flat rate at $2,022.39 per ounce as of 0340 GMT. Simultaneously, US gold futures remained steady at $2,036.20 per ounce, emphasizing the consistent trend observed both locally and internationally.
The resilience of the gold market in Pakistan amidst political uncertainty showcases the precious metal’s status as a reliable investment option for individuals and investors alike. As a safe-haven asset, gold often proves to be a preserve during times of economic and political unpredictability.
While the local and international markets continue to navigate uncertainties, the unchanged gold prices at the onset of this week provide a sense of assurance for those closely monitoring economic indicators. Investors and consumers will be keenly observing how these trends evolve in the coming days, weighing the stability of gold against the backdrop of ongoing political developments.
