Gold prices rose today, reaching multi-week highs above $2,400 per ounce. This increase comes despite steady US Treasury yields, which can sometimes put downward pressure on gold.
Analysts attribute the rise to a cautious market atmosphere. Investors are seeking safe-haven assets like gold due to ongoing economic uncertainties.
Here’s a quick breakdown of today’s gold price movement:
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- Spot Gold: Upward trend, reaching above $2,400 per ounce, its highest level in nearly a month.
- Market Sentiment: Cautious, leading investors towards safe havens like gold.
Specifics for Pakistan (as of May 18, 2024):
- The price of 24-carat gold per tola increased by Rs 3,100 to Rs 248,100.
- 10 grams of 24-carat gold rose by Rs 2,658 to Rs 212,706.
Looking for more information?
Check out these resources for further details:
- News websites in Pakistan (be sure to check the date of publication)
- Financial news websites like FXStreet
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