Gold prices jump by Rs1,250 in last two days

Published on: May 19, 2021 7:39 PM

KARACHI: Prices of the yellow metal rose in international markets due to the instability in other asset classes, pushing gold prices to Rs107,250 per tola as prices hiked by Rs1,250 in the span of two days.

One of the reasons can be the correction in cryptocurrency. If used as a benchmark for cryptocurrencies, Bitcoin fell from $58,000 last week to $45,000 earlier today after hitting a low of $43000.

Another reason behind the price of gold rising is the increase in US inflation due to the $9 trillion stimulus injection made.

As a result, the dollar’s value declined, making safe-haven assets more lucrative as an investment.