Increase In The Price Of Gold

Adnan Agar, Operations Director, AA Gold Commodities, said, "The price of gold will go up when the market opens in Pakistan on Monday." The last impact on gold prices in Pakistan from the international market came when gold was being sold at 75 1,752 an ounce. It has now risen to 7 1,780 and is set to stand around this range for the next few days.
At the time of this story, the price of gold in the international market was 17 1780 per ounce. Agar expects the price of gold per tola to increase from Rs 500 to Rs 1,000.
He said that the next few days could see a sharp rise in gold prices in Pakistan due to the rising value of the dollar amid rising international gold prices as well as the volatile situation in neighboring Afghanistan.
He said the recent rise in prices was due to negative data on consumer sentiment in the United States. He added that a decision on monetary policy could be imminent, which would affect the price of gold next week.

"Progress in the United States is affecting the price of gold," Eger said. Negative news from major economies, especially the US, such as news of rising deaths due to epidemics or news of political instability, has pushed up the price of gold. Positive news, such as rising employment in the United States, has a negative effect on the price of gold.

The price of gold began to rise internationally as countries around the world went into lockdown in March 2020. .