On April 22, 2024, the gold rates in Pakistan varied according to purity levels. For 24K gold, the price was Rs. 242,600 per tola and Rs. 207,990 per 10 grams. Meanwhile, 22K gold was priced at Rs. 222,441 per tola and Rs. 190,658 per 10 grams. 21K gold was valued at Rs. 212,329 per tola and Rs. 181,992 per 10 grams, and 20K gold was priced at Rs. 202,218 per tola and Rs. 173,325 per 10 grams. The lowest purity, 18K gold, had rates of Rs. 181,996 per tola and Rs. 155,993 per 10 grams. These rates reflect the current market values for gold in Pakistan on the specified date.
Does the Gold Price Remain the Same Throughout the Day?
Gold prices in Pakistan, like anywhere else, don’t stay the same all day. They change because of a bunch of reasons like what’s happening in the world economy, politics, and how much people want to buy or sell gold.
Also, the prices are connected to what’s going on in big gold trading places like London and New York, where trading happens non-stop. So, even in Pakistan, gold prices can go up or down many times in a day based on what’s happening globally and locally, like taxes, import fees, and how much people in Pakistan are buying or selling gold.
Other things like government decisions, interest rates, and inflation also affect gold prices, so they’re always moving.
Table Showing Gold Rates Today in Pakistan
| Gold Purity | Per Tola (PKR) | Per 10 Gram (PKR) |
|---|---|---|
| 24K | 242,600 | 207,990 |
| 22K | 222,441 | 190,658 |
| 21K | 212,329 | 181,992 |
| 20K | 202,218 | 173,325 |
| 18K | 181,996 | 155,993 |
These are the gold rates for different purities in Pakistan on April 22, 2024.
Table of Gold Prices in Different Cities
| City | Gold 24K per Tola (PKR) | Gold 22K per Tola (PKR) |
|---|---|---|
| Karachi | 242,600 | 222,440 |
| Islamabad | 242,600 | 222,440 |
| Lahore | 242,600 | 222,440 |
| Multan | 242,600 | 222,440 |
| Peshawar | 242,600 | 222,440 |
These are the gold prices for 24K and 22K per tola in major cities of Pakistan today.
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 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 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.
FAQs
What is the Price of 1 tola gold in Pakistan Today?
Today gold price in Pakistan per tola is Rs. 242,600 as latest updated rate on 22 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.