The gold rates in Pakistan are denoted in various units, including tolas and grams, to cater to different consumer preferences and market standards. As of the latest update, the price for 24-karat gold per tola stands at Rs. 232,700, while the equivalent rate for 10 grams is Rs. 199,506.2. Breaking it down further, the price for 1 gram of 24-karat gold is Rs. 19,950.62. These rates are essential for individuals looking to buy or sell gold, whether for investment purposes or jewellery making. The fluctuations in gold prices are influenced by various factors, including global market trends, currency fluctuations, and local demand dynamics, making it imperative for consumers and investors to stay informed about the latest rates.
Does the gold price remain the same throughout the day?
Gold price in Pakistan does not remain the same throughout the day, it changes many times a day. The main reason behind changing the gold price or increasing gold price is the political situation of the country and the increasing or decreasing price of the dollar.
Dollar rate and gold price relationship
The dollar rate has a direct effect on gold prices. In Pakistan, the dollar price doesn’t remain the same so the gold price also fluctuates with the dollar rate and is also influenced by the trends in the global market.
Table showing gold rates today in Pakistan
Here’s a table representing the given gold rates in Pakistan:
| Description | Rate |
|---|---|
| 24K – 1 Tola Gold Rate | Rs. 232,700.00 |
| 24K (10 Gram) Gold Price | Rs. 199,506.20 |
| 24K Gold Rate 1 Gram | Rs. 19,950.62 |
The provided gold prices are obtained from the local markets of Karachi and Multan.
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.
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.
Jewelry 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 County
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 jewellery which 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 few days
Here’s a table summarizing the gold rates in Pakistan for the specified dates:
| Date | Gold 10 grams | Gold / Tola | 24K Gold / gram | 22K Gold / gram | 21K Gold / gram |
|---|---|---|---|---|---|
| 29 Mar 2024 | Rs. 199,420 | Rs. 232,600 | Rs. 19,942 | Rs. 18,280 | Rs. 17,449 |
| 28 Mar 2024 | Rs. 197,110 | Rs. 229,900 | Rs. 19,711 | Rs. 18,068 | Rs. 17,247 |
| 27 Mar 2024 | Rs. 195,220 | Rs. 227,700 | Rs. 19,522 | Rs. 17,895 | Rs. 17,082 |
| 26 Mar 2024 | Rs. 194,790 | Rs. 227,200 | Rs. 19,479 | Rs. 17,856 | Rs. 17,044 |
| 25 Mar 2024 | Rs. 193,930 | Rs. 226,200 | Rs. 19,393 | Rs. 17,777 | Rs. 16,969 |
| 22 Mar 2024 | Rs. 193,030 | Rs. 225,150 | Rs. 19,303 | Rs. 17,694 | Rs. 16,890 |
| 21 Mar 2024 | Rs. 191,190 | Rs. 223,000 | Rs. 19,119 | Rs. 17,526 | Rs. 16,729 |
| 20 Mar 2024 | Rs. 192,600 | Rs. 224,650 | Rs. 19,260 | Rs. 17,655 | Rs. 16,853 |
| 19 Mar 2024 | Rs. 192,260 | Rs. 224,250 | Rs. 19,226 | Rs. 17,624 | Rs. 16,823 |
| 18 Mar 2024 | Rs. 192,780 | Rs. 224,850 | Rs. 19,278 | Rs. 17,671 | Rs. 16,860 |
These rates represent the prices of gold per 10 grams, per tola, and per gram for 24K, 22K, and 21K purities, respectively, providing valuable insights for consumers and investors in the gold market.
FAQs.
What is the Price of 1 tola gold in Pakistan Today?
Today gold price in Pakistan per tola is Rs. 232,700.00.
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.