As if gold was already not expensive in Pakistan, here is another big news for you all.
Gold is poised to move higher later this year, powered by the Federal Reserve’s less aggressive stance on interest rates and lingering global uncertainties, a precious metals expert said Tuesday.
Concerns over the global economy and geopolitical issues including the trade war between the Unites States and China have added to uncertainty, which often benefits gold that’s considered a safe heaven, or assets that tend to retain or increase their value even during market turbulence.
Gold was trading at about $1,286.646 an ounce as of 0645 GMT on Tuesday.
Metals expert Suki Cooper of Standard Chartered said last month she expects bullion prices to move higher this year.
“We expect gold to end the year on a strong note,” Cooper said “Futures Now”. “It’s in the fourth quarter that we’ll see gold prices testing the highs that we saw in 2018 and 2017, and potentially matching the highs from five years ago.”
If this will be the case, surely it will gold price in Pakistan are also going to increase which are already sky high.
