Today in Pakistan, the price of pure gold, which is 24 karats, is PKR 243,150 per tola. For gold that’s slightly less pure, 22 karats, the price is PKR 191,090 per 10 grams. These prices are for Wednesday, April 17, 2024. It’s important information for people interested in buying or selling gold because it tells them how much they’ll need to pay or can expect to receive based on the purity of the gold.
Does the Gold Price Remain the Same Throughout the Day?
Gold prices don’t stay the same throughout the day. They go up and down based on a bunch of things like how much people want to buy or sell gold, what’s happening in the world, how strong or weak currencies are, and how people feel about investing. Gold is traded in markets worldwide, and prices change quickly as people buy and sell. So, you might notice the price of gold changing several times in a day. This constant movement in prices helps traders, investors, and even regular folks decide when to buy, sell, or hold onto their gold. Also, prices can vary from place to place depending on local factors and market conditions.
Table Showing Gold Rates Today in Pakistan
As of April 17, 2024, the gold rates in Pakistan per tola and per 10 grams for various purity levels are as follows:
| Gold Purity | Per Tola | Per 10 Gram |
|---|---|---|
| 24K | PKR 243,150 | PKR 208,462 |
| 22K | PKR 222,945 | PKR 191,091 |
| 21K | PKR 212,811 | PKR 182,405 |
| 20K | PKR 202,677 | PKR 173,719 |
| 18K | PKR 182,409 | PKR 156,347 |
Table of Gold Prices in Different Cities
| City | Gold 24K Per Tola | Gold 22K Per Tola |
|---|---|---|
| Karachi | Rs. 243,150 | Rs. 222,945 |
| Islamabad | Rs. 243,150 | Rs. 222,945 |
| Lahore | Rs. 243,150 | Rs. 222,945 |
| Multan | Rs. 243,150 | Rs. 222,945 |
| Peshawar | Rs. 243,150 | Rs. 222,945 |
This table illustrates the gold rates in various cities of Pakistan, namely Karachi, Islamabad, Lahore, Multan, and Peshawar, as of the given date. The rates are provided for both 24K and 22K gold per tola.
For the most up-to-date and accurate information on gold prices, it is recommended that individuals consult with local gold merchants and jewellers.
Reasons Behind Changing Price of Gold Price
Here are some of the reasons behind gold prices increasing or decreasing.
- Supply and Demand
When more people want gold than is available, its price goes up. If there’s a lot of gold and few people want it, the price goes down.
- Geopolitical and Economic Uncertainty
Gold is seen as safe when things are uncertain. So, when there’s trouble in the world or the economy, more people buy gold, which makes its price go up.
- Inflation
When money loses its value because prices go up, people buy gold to keep their wealth safe. So, when inflation rises, does the price of gold?
- Interest Rates
When interest rates are low, people don’t earn much from savings accounts or bonds. So, they buy gold instead, which raises its price. But if interest rates are high, fewer people buy gold, so its price drops.
- Currency Strength
Gold is traded worldwide in dollars. If the dollar gets weaker, it takes more dollars to buy gold, so its price goes up.
- Central Bank Policies
When central banks print lots of money or make it easy to borrow, it can lead to inflation. So, people buy gold to protect themselves, pushing its price up.
- Market Speculation Sometimes, people buy or sell gold based on rumours or guesses about the future. This can cause gold prices to change quickly.
- Jewellery and Industrial Demand Besides investing, gold is used in jewellery and industry. When more jewellery or electronics are made, it affects how much gold is available, which can change its price.
Gold Price Effects on Country
Fluctuations in gold prices can have some pretty big impacts on a country’s economy. Let’s break it down:
- Trade Balance:
Countries that produce or trade a lot of gold can see changes in their trade balance. When gold prices go up, countries that export gold make more money, while those that import it might end up paying more.
- Currency Value:
Gold prices can also affect how much a country’s money is worth. When gold prices rise, the currencies of gold-producing countries tend to get stronger, but if gold prices fall, their currencies might weaken.
- Inflation and Deflation:
Gold is often seen as a safe bet when prices are going up. So, if gold prices rise, it can signal that people are worried about inflation. But if gold prices suddenly drop, it might suggest people are less worried about prices going up, or even worried about prices going down too much.
- Investor Confidence:
Investors pay close attention to gold prices. When prices shoot up, it’s usually a sign that people are feeling uncertain about the world. But if gold prices fall, it often means investors are feeling more confident about things.
- Central Bank Reserves:
Many countries stash away gold in their central banks. So, if gold prices change, it can affect how much those reserves are worth and how banks manage their money.
- Consumer Spending:
In places where gold is a big deal, like jewellery savings, changes in gold prices can affect what people buy. If gold prices go up, folks might hold off on buying gold jejewellerywhich could slow down spending in that area.
So, whether gold prices go up or down, they can have ripple effects throughout an economy, affecting everything from trade to how much money people spend.
Gold Price in the Last Five Days
| Date | Gold 24K Per Tola | Gold 22K Per 10 Gram |
|---|---|---|
| Apr 17, 24 | Rs. 243,150 | Rs. 191,090 |
| Apr 16, 24 | Rs. 241,600 | Rs. 189,872 |
| Apr 15, 24 | Rs. 243,000 | Rs. 190,972 |
| Apr 08, 24 | Rs. 238,900 | Rs. 187,750 |
| Apr 07, 24 | Rs. 238,900 | Rs. 187,750 |
This table outlines the gold rates for 24K per tola and 22K per 10 grams on different dates in April 2024. The data provides insights into the fluctuation of gold prices over the specified period.
FAQs.
What is the Price of 1 tola gold in Pakistan Today?
Today gold price in Pakistan per tola is Rs. 243,150 as latest updated rate on 17 Apr, 2024.
How much is a Tola?
The measurement of tola may vary in different countries. However, the Gold rate in Pakistan one tola is equal to 11.66 grams.
How many grams are there in one tola and one ounce?
In Pakistan, a tola is approximately 11.667 grams.
Similarly, one ounce of gold in Pakistan is equivalent to about 2.43 tolas.
Overall, one ounce of gold weighs approximately 28.35081 grams.
What influences gold price?
Supply and demand dynamics, Geopolitical, economic uncertainty, Inflation? Interest rates, Currency strength.