Gold crosses 1-lakh mark in India...Know what is the price of 10 grams of 24 carat gold in Pakistan
Gold crosses 1-lakh mark in India...Know what is the price of 10 grams of 24 carat gold in Pakistan
Gold prices in India took a U-turn from the historic Rs 1 lakh-mark and declined Rs 2,400 to Rs 99,200 per 10 gram in the national capital on Wednesday amid weak global trend. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity spurted by Rs 1,800 to hit the lifetime peak of Rs 1,01,600 per 10 grams on Tuesday.
What is the price of gold in Pakistan
According to the report of Pakistan Today, its price there was 324940 Pakistani rupees per 10 grams on April 22. If we convert it into Indian rupees, then it will be equal to 98,509.64 INR.
Why are gold prices increasing in Pakistan?
As per a report by BBC Urdu, people associated with gold trade in Pakistan and analysts believe that the main reason for the increase in gold prices in the country is the price of gold in the international market.gold priceThere is an increase in prices. Muhammad Qasim Shikarpuri, President of All Pakistan Sarafa Jewelers Association and Chairman of Karachi Bullion Exchange, while talking to BBC Urdu, said that this increase is basically the result of the intensifying trade war between America and China, in which the tension has increased further due to the imposition of new tariffs.
Why is gold becoming expensive in India?
According to the Times of India report, the main reason behind the high price of gold in India is the differences between the President and the Federal Reserve Chairman in the US over interest rates, which has directly affected the dollar index. The dollar index is currently trading at around 98.12, which is the lowest level in the last three years. Due to the weakening of dollar, investors are now looking at safe options and gold has always been considered a 'Safe Haven'.
Apart from this, the increasing trade tension between the US and China has also fueled the demand for gold. Overall, be it India or Pakistan, this rise in the prices of gold and silver in both countries is the result of the global economic environment.
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