Daily Gold Price in Pakistan
Let’s start with the Gold Price in Pakistan Today; Today, Monday, 24 Jul 2023, the Gold Rate in Pakistan stands at Rs. 231,045.157 for 24K Gold per tola. For 10 grams of 22K Gold, the rate is Rs. 198,033.048.
It’s essential to keep track of the Gold rates regularly if you plan to buy or sell Gold in Pakistan. Gold is a precious metal with cultural significance and a valuable investment. Awareness of the current rates empowers you to make informed decisions and ensures you get the best value for your Gold transactions.
Latest Gold Price in Pakistan
The current Gold Price in Pakistan reflects a sense of purity, elegance, and luxury. In our subcontinent culture, Gold is highly valued and widely used in the form of exquisite jewellery, especially during wedding seasons. If you are considering creating Gold jewellery, it’s essential to know the latest Gold rates in Pakistan Today, which vary depending on its purity—ranging from 18, 20, 22, to 24 carats.
It’s important to note that Gold rates may fluctuate across different cities due to several factors. These factors include demand, interest rates, state taxes, gold traders, bullion associations, transportation costs, and fabrication charges. Gold is a favoured investment worldwide and holds particular significance in Pakistan.
So, whether you are looking to invest or adorn yourself with the beauty of Gold, staying updated on the latest Gold rates in Pakistan is crucial. It allows you to make informed decisions about your Gold-related endeavours and keep track of the ever-changing value of this precious metal.
How Many Grams In 22k Gold?
Let’s understand how to calculate the weight of 22k Gold. Gold is measured in carats in the gold market, whereas 24-carat gold is considered pure Gold. Therefore, 22-carat gold contains 22 parts of Gold and two amounts of other metals or alloys.
To determine how many grams are in 22k Gold, you need to know the weight in tolas or ounces. One tola is equivalent to 11.6638 grams, and one ounce is equal to 31.1035 grams. Once you weigh tolas or ounces, you can multiply it by 11.6638 to convert it into grams for 22k Gold.
For example, if you have two tolas of 22k Gold, the calculation would be:
2 tolas * 11.6638 grams/tola = 23.3276 grams of 22k gold.
Similarly, if you have 1.5 ounces of 22k Gold, the calculation would be:
1.5 ounces * 31.1035 grams/ounce = 46.65525 grams of 22k gold.
So, to find out how many grams are in 22k Gold, you need to multiply the weight in tolas or ounces by 11.6638 or 31.1035, respectively.
How Much Is A Tola?
A tola is a traditional unit of weight commonly used in South Asia, including Pakistan, India, and some other neighbouring countries. It is mainly used to measure precious metals like Gold and silver.
In Pakistan, one tola is equivalent to approximately 11.6638 grams. This means that if you have one tola of Gold, it weighs about 11.6638 grams. Similarly, if you have two tolas of Gold, it would weigh around 23.3276 grams.
The tola measurement is still widely used in jewellery and gold markets in Pakistan, especially during weddings and other cultural events where Gold is an essential part of gift-giving and adornment. Let us say that it provides a convenient and familiar way to express the weight of precious metals, making it easier for buyers and sellers to understand the quantity of Gold they are dealing with each other.
We can say that a tola is a unit of weight commonly used in Pakistan, approximately equal to 11.6638 grams.
What Is The Price Of 1 Tola Gold In Pakistan Today?
Today gold price in Pakistan per tola is Rs. 222,900 as the latest updated rate on 23 Jul 2023.
What Is The Price Of 1 Gram 24K Gold In Pakistan?
Today price of 1 gram 24K Gold in Pakistan is 17518.
What Is The Price Of Gold 24K Today?
24K Gold price today in Pakistan is Rs. 191,101 per 10 grams.
How Much 22 Carat Gold In Pakistan?
22 carat Gold rate in Pakistan is 204378.
Gold Price Factors:
We can tell you that the price of Gold is affected by various factors which determine its value in the local market or international market. One more thing, the value of Gold in the global market will also dictate the price of Gold in the Pakistan market. Some of the critical factors that impact the Gold price are:
- Global Economic Conditions: Economic conditions in significant economies can directly impact Gold prices. During economic uncertainty, investors often turn to Gold as a safe-haven asset, driving up its demand and, subsequently, its price.
- Inflation: Gold is often considered a hedge against inflation. When the purchasing power of fiat currencies declines due to rising inflation, investors seek refuge in Gold, increasing its price.
- Interest Rates: The relationship between Gold prices and interest rates is inversely proportional. When interest rates are low, the opportunity cost of holding Gold decreases, making it more attractive for investors and pushing its price higher.
- Currency Fluctuations: As Gold is priced in US dollars on the global market, changes in exchange rates can affect its price in local currencies like the Pakistani Rupee. A weaker Rupee against the US dollar generally results in higher Gold prices in Pakistan.
- Geopolitical Tensions: Political uncertainties, conflicts, or geopolitical tensions worldwide can drive investors towards Gold as a safe asset, leading to a surge in demand and price.
- Central Bank Reserves: Central banks of various countries often hold Gold as part of their foreign reserves. Their buying or selling activities can impact the global Gold market and affect local prices.
- Jewellery Demand: In countries like Pakistan, where Gold is extensively used for jewellery, changes in demand for ornaments during festive seasons, weddings, or cultural events can impact Gold prices.
- Supply and Production: Fluctuations in Gold production, changes in mining regulations, and supply chain disruptions can affect the availability of Gold, influencing its price.
Pakistani Market Reaction
The Pakistani market is sensitive to global and domestic factors influencing Gold prices. Investors, jewellery makers, and consumers closely monitor changes in Gold prices to make informed decisions.
During periods of economic instability or inflation rises, the demand for Gold increases as people seek a safe-haven investment. This higher demand leads to an upward movement in Gold prices in the local market. Similarly, geopolitical tensions or currency fluctuations can also prompt investors to shift towards Gold, impacting its price in Pakistan.
Jewellery demand, which remains significant in Pakistan, particularly during weddings and festive seasons, can influence local Gold prices. During these periods, when demand surges, Gold prices may see an upward trend.
Overall, the Pakistani market’s reaction to Gold price factors is dynamic and can be influenced by a combination of global and domestic economic and geopolitical conditions. Investors and consumers alike closely monitor these factors to navigate the Gold market wisely and make the most of their Gold-related decisions.
Is there any Gold mine in Pakistan?
Yes, Reko Diq Mine