"As in other countries, the recent rise, decline and rise again in the the global bullion market has piqued interest, particularly for those who view gold and silver as an investment. While gold and to a lesser extent, silver has long been a favourite among jewellery buyers in Pakistan, it is a safe place to keep their money that many buyers are seeking these days."
"This trend was confirmed by Omer Ehsan, another jeweller who has been running his family business in Lahore for decades. Increasingly, he says, the trend in gold investments and, moreso in silver is increasing. My customers called to inquire whether they should invest in and join the rally, but [I] advised them caution, he told Al Jazeera, pointing to a decline in prices last week, before a sudden rally in the past two days."
Global gold and silver prices have experienced wild fluctuations, triggering increased interest in precious metals as investments in Pakistan. Jewellery customers have been inquiring about buying silver bars and selling gold as a way to protect savings. Silver demand appears to be rising faster than gold, shifting purchase patterns within a declining jewellery sector. Domestic prices climbed, with 10-gram gold reaching 440,000 rupees and 10-gram silver reaching 7,800 rupees. Jewelers advise caution amid rapid price swings after an unusual international dip followed by a sharp rally, reflecting broader bullion market volatility.
Read at www.aljazeera.com
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