Global Gold Prices Hit 7-Week High at $4,260/oz Amid Weakening Dollar

International gold prices continued their upward momentum on Thursday morning, reaching a new seven-week high of $4,260 per ounce.

This surge is attributed to global macroeconomic factors, including safe-haven demand as investors hedge against currency fluctuations and track central bank buying trends.

The weakening US dollar index has also contributed to the rise in gold prices, making the precious metal more attractive to international investors.

In Pakistan, bullion traders are closely monitoring global charts before the official APSGJA rates are issued later today. Analysts expect an upward adjustment in local gold rates due to the significant increase in international spot prices.