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Gold Rate in Pakistan

by Adeel Ikram

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Gold Rate in Pakistan – Today, 06 September 2023 Gold Rate in Pakistan

Today, the Gold Rate in Pakistan is 06 September 2023. The atomic number of Gold is 79, and its symbol is Au. Gold is regarded as a sign of wealth because of its value. In its purest form, the hue is a bright yellow radish with a hint of orange.

Gold Rate in Pakistan

While the pure form of Gold is 24 Carat and mixed with other elements is 22 Carat, the latter is used for jewelry and other purposes and is classified as 22 Carat.

In Pakistan and worldwide, gold prices fluctuate daily due to the international market. The cost of Gold is a variable that cannot be determined. Gold prices in Pakistan are determined by local, and Sarafa needs in different cities, which offer the rate of Gold.

Gold Is In Pakistan

Many women in Pakistan are likely to wear gold jewelry as a fashion accessory, while others would utilize it as a source of investment. Although gold prices are aggregated in the London Bullion Market and sometimes by IMF, if we had talked about Gold Prices in Pakistan, they would have sole authority to establish the gold standards and its price.

In addition, the price of Gold frequently fluctuates due to various variables, making it difficult to predict its value at any one time. As a result of Pakistan’s Rupee’s status as a “poor” currency relative to other global currencies, the gold rate in Pakistan is always higher than in other countries.

Since Pakistan’s gold price has never been stable throughout its prolonged economic turmoil, it’s not surprising that it’s been plagued by high inflation.

The word “gold” connotes being pure, elegant, and costly. Wedding seasons see a spike in the popularity of gold jewelry in our subcontinental culture. In Pakistan, you may get the newest Gold prices by purity, either 18, 20, 22, or 24 carats, if you intend to produce Gold jewelry.

Gold prices vary widely from city to city for various reasons, such as demand for the metal and other economic considerations, such as interest rates and taxes. Investment in Gold is joint worldwide and prevalent in Pakistan.

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Today’s Gold Rate In Pakistan 06 September 2023

As of Wed, Sep 06, 2023

  • 24 Karat Gold Rate (1 Tola): 231800.00
  • 24 Karat Gold Rate (10 Gram): 198730.00
  • 24 Karat Gold Rate (1 Gram): 19893.00

Currently, the Gold Rate in Pakistan

The Karachi Sarafa Market, which determines the price of Gold in Pakistan, is the focal point of the country’s gold trade. Based in Karachi, the Karachi Sarafa Bazar Association for Gold Price regulates the gold price in all other cities. The table below shows that the gold rates in various cities, such as Lahore, Karachi, Islamabad, Quetta, Multan, and Peshawar, are all the same.

City Gold Silver
Lahore PKR 231,800 PKR 2,780
Karachi PKR 231,800 PKR 2,780
Islamabad PKR 231,800 PKR 2,780
Peshawar PKR 231,800 PKR 2,780
Quetta PKR 231,800 PKR 2,780
Sialkot PKR 231,800 PKR 2,780
Attock PKR 231,800 PKR 2,780
Gujranwala PKR 231,800 PKR 2,780
Jehlum PKR 231,800 PKR 2,780
Multan PKR 231,800 PKR 2,780
Bahawalpur PKR 231,800 PKR 2,780
Gujrat PKR 231,800 PKR 2,780
Nawabshah PKR 231,800 PKR 2,780
Chakwal PKR 231,800 PKR 2,780
Hyderabad PKR 231,800 PKR 2,780
Nowshehra PKR 231,800 PKR 2,780
Sargodha PKR 231,800 PKR 2,780
Faisalabad PKR 231,800 PKR 2,780
Mirpur PKR 231,800 PKR 2,780

 

Gold Price Fluctuations—Why?

Gold is valued worldwide for investment and jewelry making. Gold prices are affected by many worldwide factors. Gold prices may be influenced by:

  • Interest Rates
  • Monetary policy
  • Geopolitics
  • Risk appetite/aversion
  • Currency markets
  • Inflation/Deflation
  • Investment demand
  • Jewellery demand
  • Equities

Gold is usually priced in U.S. dollars. Hence, dollar value might affect gold prices. As the currency strengthens, international investors may find Gold more expensive, lowering its cost. However, a weak dollar may make Gold cheaper for global investors, raising gold prices. The U.S. Dollar Index drives daily gold price movements.

Gold jewelry demand also affects Gold. Gold jewelry is big in India. Gold prices may rise if such jewelry is popular. However, sluggish jewelry demand may lower gold prices.

Gold prices also depend on interest rates. Higher interest rates can make gold more expensive since Gold does not pay dividends or interest. Lower interest rates may benefit Gold. Lower speeds reduce Gold’s opportunity cost, making it more appealing to investors.

FAQs:

Q: What is the equivalent weight in grams of one tola of gold?

ANS: One tola is equivalent to 11.667 grams of gold in Pakistan.

Q: How many tolas of gold are there in a single ounce of the precious metal?

ANS: In Pakistan, one ounce of gold is equivalent to 2.43 tolas of gold.

Q: How many grams of gold are there in a single ounce of its pure form?

ANS: In terms of weight, one ounce of gold is equal to 28.35081 grams.

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