The current gold rate in Pakistan as of October 11, 2023, stands at Rs. 201400 per tola, while the per gram rate for 24K gold is Rs. 17267.1. 22K gold is available for Rs. 15827 per gram and 21-carat gold is priced at Rs. 15108. These rates are according to the latest update from Pakistan Sarafa Market as of on October 11, 2023. If you want to calculate the current gold rates in 24K, you can simply enter the gramage in the textbox and our Gold Calculator tool will do the rest for you. Additionally, if you want to check the historical gold rates, we also provide a chart as per the market. For those interested in calculating the gold price per gram, one gram of 24 Karat gold in Pakistan is priced at Rs. 17267.1.
Gold Rate in Pakistan Today 11 October 2023
|Gold Price||24K Gold Rate Today||22K Gold Rate Today|
|per Tola Gold||Rs.201400||Rs.196,807|
|per 10 Grams||Rs.172671||Rs. 15718|
|per Gram Gold||Rs.17267.1||Rs. 15325|
Gold Price in Pakistan Today 11 October 2023
The gold rate in Pakistan today on October 11, 2023 has been the subject of much discussion among investors. The current 24K gold rate stands at Rs.201,400 per tola, while the 22K gold rate today is Rs.196,807 per tola- both significantly higher than the previous week. Gold’s ever-changing market price causes many to keep a close eye on the rates, especially in Pakistan where gold holds a significant cultural and economic value. Despite the changing prices, investing in gold remains a popular choice for many Pakistanis, and its long-standing role in the country’s economy is unlikely to diminish anytime soon.
Today Gold Rates in Major Cities Of Pakistan 11 October 2023
The gold and silver rates remain consistent across major cities in Pakistan on 11th October 2023. The price of gold is steady at Rs.201400, and silver is also uniformly priced at Rs.2,270 in cities such as Lahore, Karachi, Islamabad, Peshawar, Quetta, and Sialkot, among others. The uniformity in rates signifies a stable market for these precious metals across the country. Investors and consumers are advised to track these rates frequently for any sudden changes or trends.
Moreover, the current rates can also serve as a reference point for those interested in buying or selling gold and silver in these cities. With the prices being consistent, it may be an ideal time for individuals to make their investments or purchases.
It is important to note that the prices of gold and silver are influenced by various factors such as global market trends, inflation, currency fluctuations, and demand and supply. Therefore, it is essential to stay updated with the latest news and developments in the market to make informed decisions regarding gold and silver investments.
Additionally, these rates also reflect the overall economic stability of Pakistan. Stable rates for precious metals can indicate a strong economy, making it an attractive destination for foreign investments. This could potentially lead to further growth and development in the country.
Factors Affecting Gold Prices in Pakistan
Gold is a highly sought-after precious metal that has been used as a form of currency and store of value for centuries. In Pakistan, gold holds significant cultural and economic importance, with the country ranking among the top 10 countries in terms of gold consumption. As such, fluctuations in gold prices can have a considerable impact on the Pakistani economy and its people. In this document, we will explore the factors that affect gold prices in Pakistan.
Supply and Demand
Like any commodity, the basic principle of supply and demand plays a significant role in determining gold prices. The global demand for gold is driven by various factors such as jewelry production, investment demand, central bank buying, and industrial use. At the same time, the supply of gold is influenced by factors like mining production, recycling, and central bank selling. In Pakistan, domestic demand for gold is mainly driven by jewelry production and investment demand.
Global Economic Factors
The global economic climate has a significant impact on gold prices in Pakistan. When there is uncertainty or volatility in the stock market or currency fluctuations, investors often turn to gold as a safe-haven asset. Additionally, the interest rate policies of major economies, such as the United States, can also affect gold prices in Pakistan.
Inflation and Currency Devaluation
Inflation and currency devaluation are closely linked to each other and can greatly impact gold prices. In periods of high inflation, the purchasing power of a currency decreases, making gold more attractive as a store of value. Similarly, when a country’s currency is devalued, it becomes cheaper for foreign investors to purchase gold in that currency, leading to an increase in demand and prices.
Government Policies and Regulations
Government policies and regulations can also play a significant role in determining gold prices in Pakistan. In recent years, the Pakistani government has implemented various measures to curb gold imports in an effort to reduce the country’s trade deficit. These policies, such as increased import duties and restrictions on gold imports, can impact the supply of gold in the market and thus affect prices.
In Pakistan, there is a seasonal trend in gold demand due to cultural and religious factors. For example, during the wedding season and festivals like Eid, there is typically a surge in gold demand as it is considered an auspicious time to purchase gold.
Several factors influence gold prices in Pakistan, including supply and demand, global economic factors, inflation and currency devaluation, government policies, and seasonal demand. It is essential to understand these factors and their interplay to make informed decisions when buying or investing in gold in Pakistan. So, it is crucial for individuals and policymakers alike to monitor these factors closely in order to anticipate potential changes in gold prices and mitigate any adverse effects on the economy.