Gold rate in Pakistan Today is vary on daily basis. Gold is known as the best investment for the future. The Gold price in Pakistan is never fixed. It always varies according to the price of gold in the international market. Most of the gold is imported in Pakistan from Gulf countries. Another factor that affects the gold price is the current rate of the dollar in the country.
Types of Gold
There are two types of gold in the market, according to its grade and purity. In Pakistan, 22 Karate and 24 Karat gold are sold.
The 100% pure gold is very soft, and it cannot be used to make jewelry. Moreover, pure gold is so expensive. So it must be mixed with other metals to make it usable. In 24 Karat Gold, there is a higher amount of gold present. On the other hand, there is less amount of gold in 22 Karat Gold, respectively.
Based on the purity, it is offered in various forms such as 24K, 22K, etc. with weights of either 10 grams or 1 Tola. When you convert your existing jewelry, Goldsmiths also take their cut for designing and making the jewelry. United Arab Emirates (Dubai, Qatar, Oman, KSA) is considered the biggest gold import market.
Unit of Gold
The unit used to weigh the gold in Pakistan’s market is Tola.1. There are other 2 types of “Tola” in the market. One is the Pakistani Tola, and the other is Indian Tola. The Pakistani tola is respectively bigger than the Indian tola. Indian Tola is equal to about 10 Grams, and Pakistani tola is equal to 11.663 Grams. Many Goldsmiths try to dodge the customer by these units. Be aware of them next time you visit the Gold Market!!
Why is the demand for increasing gold Day by Day?
During the corona-virus, the demand for gold is continuously increasing. Gold is a very safe investment these days as It’s value barely goes down—the Demand for Gold high in Pakistan due to its cultural importance. By selling gold you have, you can easily convert your gold into cash of Pakistan anytime you want.
Current Gold Rate in Pakistan Today 2022
26 November 2021>>Today gold rate in Pakistan is Rs. 92124 per 10 Grams and Rs. 117300 per Tola.
Factors Affecting the Price of Gold
Here are the main factors which affect the prices of gold
- The Current Rate of the Dollar Directly affects increasing or decreasing the gold’s price per TOLA in a local market.
- The Current Economic Situation of the Country is also a factor that affects the prices of gold.
- The policies applied by the government and applied taxes on the import of gold also affects its prices.
- When the State Bank of Pakistan keeps more gold in reserves, its availability decreases in markets. It results in a shortage of supply and increment in prices.
- The price of gold in the international market directly affects the price of gold in the local market.
Gold Rate in Pakistan Today 16 November 2021
Today Gold Rate on 16 November 2021 is maintain under 22K gold of rate 114,399 per tola and 24K Gold price is under in 124,800 per tola. Remaining other rate of gold is in below table. You can view and check latest updated rate of Gold in 10 gram and per tola.
|City||22K 10 Grams||22K per Tola||24K 10 Grams||24K per Tola|
|Lahore||PKR. 92124||PKRs. 107482||PKR. 100,500||PKR. 117,300|
|Karachi||PKR. 92124||PKR. 107482||PKR. 100,500||PKR. 117,300|
|Islamabad||PKR. 92124||PKR. 107482||PKR. 100,500||PKR. 117,300|
|Rawalpindi||PKR. 92124||PKR. 107482||PKR. 100,500||PKR. 117,300|
|Quetta||PKR. 92124||PKR. 107482||PKR. 100,500||PKR. 117,300|
|Peshawar||PKR. 92124||PKR. 107482||PKR. 100,500||PKR. 117,300|
Importance of Gold in an Economy
- In the United States of America, when the prices of gold are increased, it’s considered a bad thing for the economy.
- When the prices of gold decreases, it clearly shows that the economy is good.
- Gold was discovered about 40,000 years ago. Bronze about 10,000 years back and silver, much later.
- In these old days, gold was only used for jewelry.
- But then, people divided the society into classes, and then it became a mark of royalty.
- Egyptians were the first to have gold and silver civilizations.
- Gold has always been accepted universally.
- Till now, all currencies are value on the bases of a fixed amount of gold, which is there in reserve.
- At the end of the 19th century, the US had 90% money as paper currency. It all changed after the world war when the US went back to gold.
- They had the Gold Reserve Act where private ownership of gold was banned, at that time
- But later, the dollar became dominant. And the act was abolished in 1975.
- Gold reserve stops the extra printing of cheap money. It is very worthwhile and widely accepted. Paper money itself does not worth anything.
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