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Biggest Gold Rise in a Year

Gold prices have increased, breaking records for 13 months recently. Gold has become a non-interest yielding metal due to the position of struggling dollar internationally. Gold traders are expecting that gold rates would increase a bit more.

This anticipation is due to the topsy-turvy global economy and the recent strength of US dollar. Strength in US dollar has curbed US exports and government is unable to hold the rates steady. Since months, US dollar is making is trying to find traction irrespective of a robust US February employment report. US dollar had to struggle hard due to the oil prices that rekindled demand for the euro and commodity-sensitive currencies.

All these market conditions have readily benefitted gold and the fairly low market expectations for the government to raise interest rates again in the coming weeks. Lifting these rates for the very first time has enabled gold rates to increase by a record-breaking margin.

It is believed that gold traders and businessmen would have to work with patience in order to let interest rates increase. Due to increased interest rates, it is obviously expected that inflation would also increase and politicians would use increased interest rates as an excuse for uncontrollable inflation.

Now it is for sure that the devaluing of US dollar will result in higher gold rates. Higher gold rates would obviously affect the buying and selling business of gold in Pakistan. Gold jewelry makers in Pakistan will readily benefit in contrast to the common people.

Afreen is a young writer and visionary towards life predominantly. I believe that writing is similar to life; it inspires surprises and creates. Being a Literature Masters, I am passionate about viewing the world with literary spectacle. Solely in love with this beautiful part of Universe called Pakistan, I am creating words and ideas for CharchaGuru.

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Biggest Gold Rise in a Year

Gold prices have increased, breaking records for 13 months recently. Gold has become a non-interest yielding metal due to the position of struggling dollar internationally. Gold traders are expecting ...