Today Gold Rate in Pakistan ( 2022-10-04 )

Today Gold Rate/Price in Pakistan

Gold Rates updated at: 08:01:02 AM 2022-10-04
Gold Type 22K Gold 24K Gold 21K Gold 18K Gold
per Tola GoldRs. 129982Rs. 141800Rs. 124075Rs. 106350
per 10 GramRs. 111466Rs. 121600Rs. 106400Rs. 91200
per Gram GoldRs. 11147Rs. 12160Rs. 10640Rs. 9120
per OunceRs. 315973Rs. 344700Rs. 301613Rs. 258525
Last 7 Day Gold Rates Forecast Table
DatePer Tola Rate
2022-09-27134199
2022-09-28133007
2022-09-29131907
2022-09-30131999
2022-10-01130899
2022-10-02130074
2022-10-03129982

Today gold rate in Pakistan per tola of 22K gold is Rs. 129982 PKR. The Gold rate in Pakistan fluctuates in the open market as it depends on many factors, internal and external. Pakistan pegged PKR to the US dollar; moreover, the US dollar and gold connection control the global gold rate. Mainly it depends on USD to PKR and also international gold rate in the worldwide market. Although the purest form is 24K, it’s also available in different and relatively lower rates in 22K, 21K, 20K, and 18K.

Gold Rate determinants in Pakistan

Gold price in Pakistan is variable and change frequently depending upon several factors. In Pakistan Rupees, it is pegged to the US dollar, and therefore the gold rate depends upon the US dollar rate. Moreover, Pakistan's economy faces inflation at different intervals, resulting in lower PKR purchasing power and increasing the gold rate. Global demand for gold and limited supply increases the gold rate exponentially in underdeveloped countries because of high-interest rates.

Whether the rate is high or low, yet Pakistani community still considers gold as reliable investments. Traditionally the ladies are fond of gold jewelery and are also considered as a sign of living standard. However, people with below-average income can’t afford huge quantities yet religiously prefer to convert their gold from savings instead of investing in the banking system as paper money.

Gold Prices and Global Economy

Gold is one of the determinants of the economic growth of society. The trend of buying and selling indicates the highs and lows of current economic conditions. Gold is among the most expensive metals used in ornaments and anciently used in trade.

In the 18th to 19th-century gold was the standard economic unit of account; later, most countries abandoned the system, yet many still have gold reserves. After the invention of paper currency, it replaced gold coins and initiated banknotes and coins other than gold. Governments and monetary systems now fix the gold exchange rate against currency and few currencies with the de facto gold standard.

US Dollar and Gold Standard System

Us dollar and the gold standard have a vast history of around two centuries. The gold standard is simply a system in which a government links its paper money to a specific gold value. The state of America initiated this system known as the Breton wood system, i.e., pegged their currency to gold's typical weight. Later US-allied nations pegged their currencies to the US dollar till Richard's period. After the great depression, people started saving their money in gold form, and it causes depletion of reserved gold in the US. Nixon banned the redeeming of bullion and gold coins; however, other pegged currencies were still redeemable. At the end of 1976, Nixon completely abandoned the gold standard, and the pegged currencies acquired floating currency standard.

Future gold Rush

According to some surveys, the global demand for gold is 1,000 tonnes higher than the supply. With no new mining potential coming over, reusing most of the gold is in practice. Consequently, less collection is an added factor for changes in gold rates. Inflationary pressures in the world economy are positive operators of gold rates.

The Gold pricing and weighting System in Pakistan

In Pakistan, the standard unit of gold measurement is tola and grams. One tola is equivalent to 11.6 grams of gold. Traditionally the subunit of 1 tola is 12 Masha; however, the system is quite outdated still is in use.

The gold sold in the market is in bullion forms and jewelry yet not sold in pure form. It ranges from 18 Karate, 20 Karate, 21 Karate, 22Karate, and 24Karate gold. The percentage of alloy metal determines the Karate number. For instance, 22 K gold carries 8.33% of alloy metal and 91.67% of pure gold. Therefore the Gold rate varies with the percentage of alloy. As higher the gold percentage higher is the gold rate. It also affects the resell value of the gold jewelry. While you are purchasing gold jewelry, you pay for the whole mass according to the current gold rate. However, when you resell the used jewelry, you will redeem only the pure gold rate instead of the entire group. It's wise to invest in the purest form of gold instead of 18 K or below, which will deduct your investment in the future.

Although 24 Karat gold is available in the market yet the most traded gold range from 18K-22K, the reason is quite apparent as it is easy to engrave and mold the alloyed gold instead of pure gold that is quite soft and malleable. Therefore

Variable Gold rate in different cities of Pakistan

The gold rate in different cities sometimes has minor differences as it depends on the specific city's market rate. However, minor changes in cities depend on taxes, governmental policies, and budget allocation to each province.

Moreover, Pakistan is a country with versatile festival seasons, so it also affects the gold price in jewelry form to increase as local jewelers community increases labor rate. In local gold markets, rural demands play a vital role. An agricultural country like Pakistan depends on harvesting and monsoon seasons; therefore, a good yield enhances gold consumption, and gold sellers use the specific season wisely. Consequently, the gold rate in different cities depends upon certain variables like in the country that causes a difference in each city. The variable includes:

  • costs of secure transportation
  • demand and supply balance
  • Gold retailers and associations price regulation
  • Governmental Taxation and trade policies
  • Overall budget allocation and development factors

ExchangePKR.com

ExchangePKR.com provides you most updated results of Gold Rate in Pakistan and saves you from scams and losses. Either you are an investor or purchasing gold for personal savings, and you must know the exact and latest gold rate per gold Karat system. It also provides you updated rates in different cities and states. The tool is easily accessible and calculates the figures correctly.