Gold Prices in USA and Gold prices in Pakistan have really fluctuated in last one week. There are lots of factors which have affected the international gold prices. Same goes for the Gold prices in Pakistan. In the past three months, the price graph of gold/ounce has been through some dramatic changes and same thing happened in the past week.
Gold Prices (An Overview)
Let us now analyze the price changes over the past seven days. The gold prices in Pakistan started the week at Rs. 50,900 per tola and ended the week at the price of Rs. 51,400 per tola. We witnessed a Rs. 500 increase in the gold prices in Pakistan during the week. The Gold prices in USA started the week at $ 1331 per ounce and ended the week at $ 1333 per ounce. The Gold prices in USA have faced lot of upside down in last 2 months. It touched $ 1371 on July 11; 2016 but decreased due to improvement in value of dollar. If we analyze the gold prices, it can be seen that they have followed a see saw path throughout the week. It touched highest level of $ 1350 on 7th September 2016 $1350, but fell drastically to a $1333 in next three days till the end of the week.
The gold prices have showed a significant increase after the weak US job data .The US economy created 151000 jobs in the month of august 2016 as compared to the expected number of 180000 jobs. Although minor fluctuations are occurring, gold value is rising for last few weeks for numerous reasons. Current low interest rates in the US are creating a demand for the investors and it is expected that Fed will increase rates in near future. This increase in the interest rates can really increase pressure on the gold prices in Pakistan and Gold prices n USA. So long term investors should sell their gold as soon as possible.