Trending News On Gold Markets History in Pakistan
Gold is a precious metal that has been used as a form of currency, jewelry, and other decorative items for centuries. The history of gold in Pakistan dates back to the time of the Indus Valley Civilization, when the metal was first mined in the region. Today, Pakistan is home to some of the largest gold mines in the world, and the country’s gold reserves are estimated to be worth over $50 billion.
In recent years, gold prices in Pakistan have fluctuated due to global economic conditions and political instability within the country. However, demand for gold remains strong among Pakistani consumers and investors.
Gold is a precious metal that has been used as a form of currency, jewelry, and other decorative items for centuries. The value of gold is determined by its rarity and its usefulness. Gold is rare because it is not often found in nature.
It is also durable, which means it can be reused over and over again without losing its value. The history of gold markets in Pakistan dates back to the time when the country was part of the British Raj. After independence, Pakistan developed its own gold market.
Today, the Pakistani gold market is one of the largest in the world.
What is the Trend of Gold Prices in Pakistan?
Gold prices in Pakistan have been on the rise in recent years. In fact, gold prices have more than doubled since 2010. The trend looks set to continue, with analysts predicting that gold prices could reach $2000 per ounce by 2020.
This would be good news for Pakistani investors, as gold is seen as a safe haven asset.
What is the Historical Data of Gold Prices in Pakistan?
Gold is a precious metal that has been used as a form of currency, jewelry, and other decorative items for centuries. The history of gold prices in Pakistan can be traced back to the time when the country was under British rule. During this period, the price of gold was fixed at Rs. 15 per 10 grams.
This rate remained unchanged until 1947 when Pakistan gained independence from Britain. After independence, the Pakistani government decided to de-peg the rupee from the British pound sterling and link it with the US dollar instead. As a result of this decision, gold prices in Pakistan started to fluctuate in line with international rates.
In 1971, when the Pakistani government nationalized all private banks in the country, gold prices shot up to Rs. 1,200 per 10 grams. This high rate didn’t last long though and by 1972, gold prices had dropped back down to around Rs. 500 per 10 grams where they remained stable for almost a decade. It wasn’t until 1982 that gold prices started to increase again and by 1983 they had reached Rs 2,000 per 10 grams.
Since then, there has been a steady upward trend in gold prices in Pakistan with occasional spikes during periods of economic or political instability. Currently, gold rates in Pakistan are hovering around Rs 80,000 per tola (equivalent to 12 grams). While this may seem like a lot of money, it’s actually lower than what it was just a few years ago when rates peaked at over Rs 100,000 per tola!
So if you’re thinking about buying some gold jewelry or investing in this precious metal then now might be a good time to do so!