Gold has long been considered a safe haven investment, and its price has been relatively stable over the years. However, in recent months, gold prices in Pakistan have been on the rise.

As of today, September 11, 2023, the price of 1 tola of gold in Pakistan is Rs. 219,900. This is an increase of Rs. 60.73 from the previous day's price.

There are a number of factors that could be contributing to the rise in gold prices in Pakistan. One factor is the depreciation of the Pakistani rupee against the US dollar. The rupee has lost about 10% of its value against the dollar in the past year, which has made gold more expensive for Pakistani buyers.

Another factor is the global economic uncertainty. The war in Ukraine and the ongoing COVID-19 pandemic have created a lot of uncertainty in the global economy. This has led investors to seek out safe haven assets like gold.

So, are gold prices in Pakistan still a good investment? It's hard to say for sure. The price of gold is volatile and can fluctuate wildly. However, if you're looking for a safe haven asset that has the potential to appreciate in value over time, gold may still be a good option.

Here are some of the factors that can affect gold prices:

  • Global economic conditions: Gold is often seen as a safe haven asset during times of economic uncertainty. When the stock market is volatile or when there is a risk of recession, gold prices tend to rise.
  • Inflation: Gold is also seen as a hedge against inflation. When the prices of goods and services rise, gold prices tend to follow suit.
  • Interest rates: Rising interest rates can make gold less attractive as an investment, as they can erode the value of its returns. However, if interest rates are too low, gold can become more attractive as a store of value.
  • Geopolitical events: Gold prices can also be affected by geopolitical events, such as wars or natural disasters. These events can create uncertainty in the markets and lead investors to seek out safe haven assets like gold.

How to buy gold in Pakistan:

There are a few different ways to buy gold in Pakistan. You can buy it from a jeweler, a bank, or a gold exchange. You can also buy it online.

When buying gold, it's important to do your research and compare prices. You should also make sure that you're buying from a reputable dealer.

Conclusion:

Gold prices in Pakistan are on the rise, but it's still too early to say whether they're a good investment. If you're considering investing in gold, it's important to weigh the risks and rewards carefully.