Pakistan Gold prices climb more than 100% in last five years
Analysts said Pakistan gold prices climbed along global prices as international gold price climbed from an average $1,024 per ounce to nearly $1600 this year.
Gold prices jumped more than 100 percent in the last five years but gold investments are on the rise in the country despite it's image as one of the least preferable destination for investment.
Analysts said Pakistan gold prices climbed along global prices as international gold price climbed from an average $1,024 per ounce to nearly $1600 this year.
They added that though majority of those investing in gold is Pakistani's a few foreigners are also invested in gold in the country.
They said people continued to buy yellow metal bars from the market considering it a worthy investment in times of uncertainties.
Meanwhile, gold prices in Pakistan have been falling after hitting a record on Feb.7, 2013. On February 7, gold price hit Rs 62,750 per tola owing to further jump in world gold price to $1,676 an ounce.
However, after February 7 the precious metal started plummeting owing to falling trend on the world bullion markets.
However, analysts added that gold sales aren't that impressed owing to the falling purchasing power of an average family.
Pakistan jewellery sales continue to remain low at 50 per cent as people, perturbed by high cost of living, are bringing their old jewellery for sale and purchasing artificial and imitation jewellery sets.
Sumber : Google
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