Gold rates hit a record high. What is fueling the surge?
Gold rates hit a record high, and investors, buyers, and sellers are all taking notice today we visited Plaza Jewelry and Sarafa Bazars, and the owners say the business is booming largely because people are cashing in their gold coins, jewelry, or whatever gold they may have laying around even Cosco has been selling gold bars lately, as the appetite for gold is fueled largely by investors waning what is traditionally seen as a safe investment in uncertain times.
Gold also tends to do well when the Federal Reserve is expected to cut interest rates because it seen as a stable place to grow your money It is also a physical asset, a lot of people hold on to it at least until the value reaches record high. According to the NBC Bay Area YouTube channel. There are a lot of reasons have been investing in gold and its picked up over the last few months even the last few weeks, people are looking out it’s an election year, and they are not sure what the Federal Reserve will do with interest rates and the economy is chaotic so people go to a safe-haven and buying gold like never before.
| Gold Rates | 24 Karat | 22 Karat | 21 Karat | 18 Karat | 12 Karat |
|---|---|---|---|---|---|
| Per Tola | Rs 248,575 | Rs 246,531 | Rs 218,464 | Rs 188,467 | Rs 128,128 |
| Per 10 gm | Rs 213,116 | Rs 211,364 | Rs 187,301 | Rs 161,583 | Rs 109,850 |
| Per 1 gm | Rs 21,311 | Rs 21,136 | Rs 18,730 | Rs 16,158 | Rs 10,985 |
| Per Ounce | Rs 604,037 | Rs 599,070 | Rs 530,867 | Rs 457,975 | Rs 311,351 |
| Per Kg | Rs 21,302,877 | Rs 21,127,706 | Rs 18,722,365 | Rs 16,156,621 | Rs 10,980,570 |
From the above table, you see the Gold rate by different weighs and Karats where you can easily find almost all Gold prices e.g.
Gold is moving up very steadily, gold doesn’t move by thousands of dollars a day like Bitcoin does, it is an actual physical asset very different from Bitcoin, certainly not chaotic or volatile, it is something that people get when they want stability. gold is very stable but it moves when things get chaotic. when we see a bunch of interest, rates cuts and people will say yes it is not as much, my savings account, will put money in gold will be safe. If we see economic turmoil or even war they get worried about what’s coming up next. Some people tell me that If Donald Trump gets reelected, I am buying gold because it is a safe haven because things are likely to be chaotic. All sorts of reasons that people own gold, a stable but not terribly sexy investment, which is one of the reasons that people buy gold.
Especially in the last 3 weeks, gold rates hit a record high because of all these different economic situations going on around the world like Israel and Iran’s attacks on each other which led the world to another difficult situation. The effects of this situation are seeing an uptick in gold and silver prices.
Miss Urooba Afreen
Meet Miss Urooba Afreen, a leading silver market expert and fellow team member of Goldrateinpak.pk. Offering astute analysis & guidance, we empower investors nationally and internationally through our well-researched information. Wishing you prosperous investments ahead!
