Gold Prices Surge to Two-Week High Amid Global Market Gains

Global gold prices have witnessed a significant increase, reaching their highest level in the past two weeks. The price of gold in international markets rose by approximately 0.4% per ounce.

After the latest surge, gold is trading at $4,685 per ounce, with intraday prices reaching as high as $4,723. Analysts suggest that this upward trend could impact gold rates in Pakistan as well.

According to Reuters, the increase is attributed to a slight depreciation of the U.S. dollar and comments by former President Donald Trump regarding ending conflicts, which have boosted investor interest in gold.

Economists note that a weaker dollar makes gold more accessible for holders of other currencies, increasing demand and driving up prices.

This rise comes after a sharp decline in March, when global gold prices fell by more than 11%, marking the largest monthly drop since 2008.