Gold Rate in Pakistan Today

Introduction

The current gold rate in Pakistan stands at Rs. 215,200 for 24-karat gold per tola, Rs. 169124 per 10 grams, and Rs. 16,478 per gram. This significant surge in prices can be attributed to the removal of the dollar cap, resulting in a remarkable increase in the value of the US dollar. Gold prices in Pakistan generally remain consistent across the country, with slight variations among different cities. However, it’s important to note that the cost of gold in Pakistan is subject to frequent fluctuations and is updated regularly.

Current Gold Rates of Pakistan Today

The table below provides the latest gold rates in various Pakistani cities:

Top Questions related to Gold Rates in Pakistan

1. What is the current gold rate in Pakistan?

The current gold rate in Pakistan fluctuates daily and is influenced by various factors, including global market trends and currency exchange rates. To get the latest gold rate in Pakistan, you can visit a reputable financial news website or contact a local gold dealer.

2. What is the average gold price in Pakistan?

The average gold price in Pakistan can vary due to factors such as global market trends, economic conditions, and currency exchange rates. It is advisable to regularly check the latest gold rate in Pakistan for an up-to-date estimate of the average price.

3. What is the gold rate today in Pakistan?

The gold rate in Pakistan changes daily. You can find the latest gold rate for today in Pakistan by visiting a trusted financial news website or contacting a local gold dealer.

4. How can I check the gold rate in Pakistan today?

To check the latest gold rate in Pakistan today, you can visit a reputable financial news website or get in touch with a local gold dealer.

5. What are the factors that affect the gold rate?

Several factors can influence the gold rate in Pakistan:

Factors Affecting Gold Rate in Pakistan

International Gold Market Prices

The global price of gold is determined by supply and demand, as well as economic and political factors such as interest rates and currency exchange rates. For instance, when interest rates are low, gold becomes more attractive to investors as it offers a higher return than cash. Similarly, a declining currency value can drive investors to opt for gold as a means to preserve their purchasing power.

Inflation

Inflation can lead to an increase in the price of gold as investors seek to safeguard their assets from currency devaluation. As the prices of goods and services rise, the purchasing power of money decreases, prompting people to invest in gold as a hedge against inflation.

Economic Condition

Economic conditions, including GDP growth, unemployment, and government spending, can also impact gold rates. A robust economy can result in higher demand for gold as investors have more disposable income, while a weaker economy can lead to decreased demand. Government spending can further affect gold rates by potentially causing inflation or currency devaluation.

Political Stability

Political instability within a country can drive up the demand for gold as a secure investment option. During uncertain times, people tend to invest in gold to protect their assets from potential risks such as currency devaluation or inflation.

Supply and Demand

The availability and demand for gold can significantly influence its price. High demand and low supply lead to higher prices, while high supply and low demand result in lower prices. The price of gold fluctuates based on factors such as the quantity of gold mined, recycled, and sold.

Import and Export Duties

Government policies on import and export duties play a role in determining gold rates in Pakistan. An increase in import duties raises the price of gold in Pakistan, making it more expensive to import. Conversely, a decrease in import duties lowers the gold price as importing becomes more affordable.

Jewellers’ Margin

Jewellers often adjust gold rates when demand is high or when international gold rates increase.

Local Market Factors

Local market conditions can also impact gold rates in Pakistan. When demand is high and supply is low, the price of gold in Pakistan tends to rise.

Seasonal Factors

The demand for gold increases during the wedding season and Eid celebrations, as gold is a traditional gift and a form of savings. This surge in demand leads to a rise in gold prices during these periods.

It’s worth noting that these factors are interconnected and can mutually influence one another. For instance, a global increase in the price of gold can trigger inflation, subsequently boosting the demand for gold in Pakistan. Additionally, the list of factors mentioned is not exhaustive, as other elements may also contribute to fluctuations in gold rates in Pakistan.

Conclusion

The gold rate in Pakistan is subject to dynamic changes influenced by a multitude of factors. Understanding these factors is crucial for both investors and consumers to make informed decisions regarding gold investments or purchases.

FAQs

1. How often does the gold rate change in Pakistan?

The gold rate in Pakistan changes daily, reflecting the dynamic nature of the market.

2. What is the historical trend of gold rates in Pakistan?

The historical trend of gold rates in Pakistan shows periodic fluctuations influenced by both domestic and international factors.

3. How do I check the gold rate in my city?

You can check the gold rate in your city by visiting a trusted financial news website or contacting local gold dealers.

4. Is gold a stable investment in Pakistan?

Gold can be considered a stable investment in Pakistan, but its value is subject to change based on various economic and global factors.

5. How can I track international gold prices?

You can track international gold prices through financial news websites, investment platforms, or by subscribing to market updates.