The recent fluctuations in gold prices in Pakistan have not only increased the interest of investors, but many consumers have now adopted the trend of investing in silver instead of gold. The price of ten grams of gold in the domestic market has seen an increase of more than Rs 20,000 in the past few days, while the price of silver has also increased significantly.
According to experts, the main reason for this trend is the fluctuations in the global gold and silver market, and especially the political tension between the US and Iran. Leading jewellers said that there has been a huge increase in customer calls to their shop in the last 2 weeks, and now most people are interested in buying silver. Our main activity is selling jewelry, which is now weakening due to investment.
He said that this trend was also confirmed by senior jewelers, who said that investment in silver is increasing compared to gold. According to business expert Hanif Chand, one of the major reasons for this volatility is the fear of a possible attack on Iran by the United States, which created turmoil in the market. When the news came that US President Trump was taking more time to decide, the market found some peace, but prices could rise again at any time.
Ali Aftab Saeed, an independent investment analyst, said that the increase in gold purchases in China is also pushing up prices, as China bought gold by selling large amounts of US Treasury securities. Islamabad-based jeweler Razaq Ahmed said that due to high gold prices, silver has now become the first choice of investment for ordinary consumers. Small investors are now buying silver bars or jewelry because they have less capital, and the increase in prices is beneficial for them.
Historically, families in Pakistan used to buy gold as an investment and as an inheritance for weddings, but this practice is now decreasing. Overall, the volatility of gold prices depends on the global market, political tensions, and the actions of large investors. Experts say that future prices will also depend on the decisions of US President Trump and Chinese President Xi Jinping at the meeting.
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