Gold Price in Pakistan – Gold Latest Price
Updated 29 July 2021
Updated 29 July 2021..Gold is considered as the best investment for future. Pakistani women love Gold jewelry and Gold is considered as good as cash. The Gold Rate in Pakistan is never fixed, it is fluctuating according to the international Gold rates. Mostly gold is imported in Pakistan from Gulf countries, the Gold price depends on the current Dollar rate. Gold is categorized according to its grade and quality. In Pakistan 22K and 24K gold is sold, which is measured as per tola and 10 grams weight. Gold jewelry also has making cost which is calculated according to the design of the product. Today Gold rate in Pakistan is Rs. 94,740 per 10 grams, and Rs. 110,500 per tola. The rates are normally same all over Pakistan, however every city Sarafa market decides the current gold rate. The Gold Rates in all major cities of Pakistan, including Karachi, Lahore, Peshawar and Islamabad are given below………The gold price in Pakistan usually depends on different factors such as USD to PKR rate and fluctuation in international gold market. The purest form of gold is in 24K, whereas it is also available in 22K, 21K, 20K and 18K
Gold Rate in Pakistan today
|Gold Rate||24K Gold||22K Gold||21K Gold||18K Gold|
|per Tola Gold||Rs. 110500||Rs. 101291||Rs. 96688||Rs. 82875|
|per 10 Gram||Rs. 94740||Rs. 86844||Rs. 82898||Rs. 71055|
|per Gram Gold||Rs. 9474||Rs. 8684||Rs. 8290||Rs. 7106|
International Gold Rates
|Gold 24K Ounce||$1806.80|
Today Gold Rate in Pakistan
Latest Gold Rates – Check today gold rate online, The word ‘Gold’ symbolizes something expensive, exquisite and extremely pure. The mining, circulation and possession of gold is something that has been taking place since centuries. People have fought and died over the custody of gold in the old times. Initially in 2nd Millennium B.C, gold artifacts discovery lead to more mining of gold. Additional artifacts were discovered in Bulgaria later on.
The more the gold was available to the world greater became the lust for its ownership. Since gold is associated with something expensive, every man dreams of owning gold in large quantity which gives him a sense of security and financial stability.
Among all of the metals that are considered to be precious or valuable, gold is considered most worthy from an investment viewpoint. It is not only used in jewelry making but also in manufacturing of electronic devices and for medicinal use. A common man stocks up on gold to keep as an investment, to back him up in term of financial setback or just to receive profit on it if he decides to earn cash from it.
Investors on the other hand purchase gold in bulk via contracts to earn a lot of money. Gold is not only available in the form of jewelry but also in form of bars and coins. The most famous gold commodities are in United States, Canada, Russia, Peru, South Africa, China and Australia from where gold is purchased and circulated in other markets.
Rates in Pakistan
The price of gold is determined in London Bullion Market. From there, a sort of an informal gold rate is determined that is implied in the world market and also sets a standard for price determination of most of the gold products. Many other aspects also play an important role in the pricing of gold.
If gold supply in the worldwide market is large then reasonable would be the purchase rates but if gold supply is short, obviously it would impact the prices as more traders or markets would try to acquire gold leading to high prices. As value of Pakistani Rupee is considerably less than pound sterling, euro or dollar, it is no surprise that gold prices in Pakistan have always been outrageously high.
Price of gold in Pakistan is also determined according to its international rate set by bullion traders and sometimes by IMF. If we look back at the history, the gold rates in Pakistan have always escalated and never stayed stable. This is because of the fact that markets from which we purchase gold in bulk have high valued currencies due to which we have to pay a handsome amount in return.
Back in 2010, gold rates per ounce had not crossed the one lac mark. Average earning people and traders use to empty their many years’ saving by buying gold. After April 2010, the gold rates in Pakistan became sky high. No ordinary man now can even think of investing in gold unless he saves for a many months or even years.
The problem is that due to economic crises in Pakistan every service and utility has become so overpriced that one person can only focus of earning enough to feed himself or find a reasonable shelter, let alone buying gold as an investment. Even then if you plan on purchasing gold or have it saved then you can check the daily updated gold prices per ounce, per gram or per tola online.
Price Determinants of Gold
Following are the key factors that drive the price of gold in the global markets that heavily impact prices in Pakistan as well;
- Worldwide demand of gold for industrial use and for jewelry making. The more the demand the more the price.
- Increases interest rates drive up the price of available gold.
- Value of US Dollar is also closely tied to price of gold as when the dollar value goes up the price of gold also touch the sky.
- When central banks keep more gold in reserves, its availability decreases in commodity markets hence leading to supply shortage and high price.
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