ISLAMABAD: Gold price remained almost flat in the international market amid a stronger US dollar on Monday after gaining for seven days in a row. Gold in the international market was available at $1,864.10 per ounce after shedding $2.10 at 1715 hours GMT. Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased to Rs104,900 with a decrease of Rs300. Gold in the local market was available at Rs105,200 per 10 grams on Saturday last. The relatively higher decrease in the gold price in the local market was due to appreciation of the Pakistani rupee against the US dollar. According to experts, with inflation surging at a record-breaking pace across the world, it\u2019s no surprise that gold has firmly positioned itself as one of the best performing asset classes of 2021. In the US, inflation is rising at its fastest pace in three decades. In China and Japan, inflation is shattering records. TLTP
\nWhile in many other economies, including the UK, Canada and Europe, inflation is nearing its highest level in almost two decades.
\nBehind the scenes, inflation is at the core of one of the biggest debates in economic history with traders questioning whether the spike in prices is \u201ctransitory\u201d or just another major blunder by central banks and global governments.
\nData released last week showed that US inflation is now running at its highest in a generation with Consumer Prices rocketing by a whopping 6.2 percent in October from a year ago \u2013 the biggest annual gain in over 31 years.
\nHistorically, when inflation accelerates at a red-hot pace, so do the prices of commodities. So far this year, a long-list of commodities have already blasted through all-time record highs including aluminium, copper, cotton, coffee, crude oil, natural gas, nickel, lithium, wheat and uranium just to name a few. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD: Gold price remained almost flat in the international market amid a stronger US dollar on Monday after gaining for seven days in a row. Gold in the international market was available at $1,864.10 per ounce after shedding $2.10 at 1715 hours GMT. Meanwhile, the price of 10 grams of yellow metal in Pakistan decreased […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-227580","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n