Gold Rate In Pakistan
Today’s Gold Rate in Pakistan - 17th July 2024.
Gold has long been considered a valuable and stable investment, serving as a hedge against inflation and currency fluctuations. In Pakistan, the demand for gold remains high due to its cultural significance and its role as a reliable store of value. Keeping track of daily gold rates is essential for investors, jewelers, and consumers alike.
Gold Rate in Pakistan Today
As of today, the price of 24 karat gold in Pakistan is PKR 249,050 per tola, while 22 karat gold is priced at PKR 195,531 per 10 grams on 17 July 2024.
Latest Gold Rates in Pakistan
The latest gold rates in Pakistan are as follows:
| Gold Purity | Per Tola | Per 10 Gram |
|---|---|---|
| 24K | Rs. 249,050 | Rs. 213,306 |
| 22K | Rs. 228,126 | Rs. 195,531 |
| 21K | Rs. 217,756 | Rs. 186,643 |
| 20K | Rs. 207,387 | Rs. 177,755 |
| 18K | Rs. 186,648 | Rs. 159,980 |
These rates are regularly updated to reflect market conditions and ensure accuracy for all interested parties.
Gold Mining in Pakistan
While Pakistan is not a major producer of gold, there are several notable gold mines. The Saindak Copper-Gold Project and the Reko Diq project in Balochistan are among the prominent mining sites. These projects are crucial for the local economy and have the potential to significantly impact the national gold supply.
Investment Trends
Gold is considered a safe investment in Pakistan, particularly during times of economic instability. The preference for physical gold, such as jewelry and bullion, remains strong, reflecting both traditional values and modern investment strategies.
Regulatory Environment
The State Bank of Pakistan regulates gold imports to maintain economic stability and control the market supply. Efforts are ongoing to formalize the gold trade, which could lead to increased transparency and efficiency in the market.
Impact on Jewelry Industry
Pakistan’s jewelry industry heavily relies on gold, with intricate designs and craftsmanship being renowned globally. The fluctuating gold prices directly affect the jewelry market, influencing consumer behavior and industry trends.
Market Trends
The gold price in Pakistan has been affected by various factors, including international market fluctuations, currency exchange rates, and local demand.
Investment and Jewelry
Gold is a highly valued investment option in Pakistan, and its demand increases during the wedding season. The latest prices are based on information from the Sarafa Jewelers Association and the International Gold Market.
Fluctuating Prices
Gold prices in Pakistan are not fixed and can fluctuate depending on several factors, including international market trends and currency exchange rates. For up-to-date information on gold prices, please check the latest market updates.
Rates for Informational Purposes Only
Please note that these gold rates are for informational purposes only and are not guaranteed to be 100% accurate. We do not take responsibility for their validity or claim their precision.
The rates may vary depending on the market conditions and other factors.
These changes are directly related to the fluctuations in the value of the US Dollar, highlighting the complex connection between currency values and gold prices.
It’s crucial to recognize that gold rates in Pakistan can vary significantly throughout the day, driven by global market trends.
Note: It is pertinent to mention that the price of gold in Pakistan fluctuates several times per the international market, so the cost is never fixed. Local gold markets and Sarafa Markets of various cities provide calculate and share the rate of gold.
Read More: How to check gold purity?