As of Monday, November 6, 2023, the gold rate per tola in Pakistan is a staggering Rs 216,500.000. This is a significant increase from just a few weeks ago. In fact, 1 gram of 24k gold is now being sold at Rs 18,562.000 and 10 grams of 24K gold are being traded for Rs 185,620.000. This price hike is affecting the entire country and consumers are struggling to keep up with the rising costs. Investors, on the other hand, are seeing this as an opportunity to invest in gold for a potentially good return. It is important to keep a close eye on the gold rate in Pakistan, as it can have a major impact on the country’s economy and the financial well-being of its citizens.

Gold Rate in Pakistan Today 6 November 2023

Gold Rate24K Gold22K Gold21K Gold
Per Tola Gold216,500.000198,458.333189,437.500
Per 10 Gram Gold185,620.000170,151.667162,417.500
Per 1 Gram Gold18,562.00017,015.16716,241.750
Per Ounce526,095.000482,253.750460,333.125

Gold Price in Pakistan Today 6 November 2023

On 6th November 2023, the gold rates in Pakistan experienced a significant fluctuation. The prices varied according to the purity of the metal. The rates are as follows:

While these figures are of a specific date, they provide a snapshot into the volatile nature of gold prices. Various factors influence these rates, such as international market fluctuations, the country’s economic conditions, and the dollar rate against the Rupee. Thus, it’s important for investors and consumers to be updated with the gold rates before making a transaction.

Today Gold Prices in Pakistan Major Cities 6 November 2023

CityGoldSilver
LahorePKR.216,500PKR 2,304
KarachiPKR.216,500PKR 2,304
IslamabadPKR.216,500PKR 2,304
PeshawarPKR.216,500PKR 2,304
QuettaPKR.216,500PKR 2,304
SialkotPKR.216,500PKR 2,304
AttockPKR.216,500PKR 2,304
GujranwalaPKR.216,500PKR 2,304
JehlumPKR.216,500PKR 2,304
MultanPKR.216,500PKR 2,304
BahawalpurPKR.216,500PKR 2,304
GujratPKR.216,500PKR 2,304
NawabshahPKR.216,500PKR 2,304
ChakwalPKR.216,500PKR 2,304
HyderabadPKR.216,500PKR 2,304
NowshehraPKR.216,500PKR 2,304
SargodhaPKR.216,500PKR 2,304
FaisalabadPKR.216,500PKR 2,304
MirpurPKR.216,500PKR 2,304

The prices mentioned above are based on the rates in major cities such as Karachi, Lahore, Islamabad, Multan and Peshawar. These cities are known to have a high demand for gold and therefore, their prices can be considered as the benchmark for the rest of the country.

Factors Affecting Gold Prices

There are several factors that play a role in determining the price of gold in Pakistan. These include international market trends, global political and economic stability, fluctuations in currency exchange rates, and domestic demand for gold.

International Market Trends

The price of gold is heavily influenced by the global market trends. As one of the most traded commodities in the world, any changes in the demand and supply of gold can have a significant impact on its price. In recent years, we have seen an increase in the demand for gold due to its perceived safety as compared to other investment options.

Political and Economic Stability

Gold is often seen as a safe haven for investors during times of political and economic instability. In Pakistan, any major changes in the government or fluctuations in the economy can affect the demand for gold and consequently, its price.

Currency Exchange Rates

Since gold is traded internationally, any changes in currency exchange rates can also affect its price in the local market. A weaker Pakistani rupee against the US dollar can result in a higher price of gold and vice versa.

Domestic Demand for Gold

Pakistan has a strong cultural affinity towards gold, with it being widely used as a form of gift and savings. Therefore, domestic demand for gold plays a crucial role in determining its price in the country.

During wedding seasons or festivals, the demand for gold tends to increase, resulting in a rise in its price.

How is the price of gold determined in Pakistan?

In Pakistan, the price of gold is primarily determined by international market prices and the exchange rate of Pakistani Rupees (PKR) against the US Dollar. It is also influenced by local demand and supply, import duties, and taxes.

Why is gold considered a valuable investment?

Gold has been considered a valuable investment for centuries due to its limited supply, durability, and perceived value. Unlike other assets such as stocks or real estate, gold holds its value in times of economic uncertainty and can act as a hedge against inflation.

How can I track daily gold prices in Pakistan?

There are various resources available to track daily gold prices in Pakistan, such as financial news websites, online forums, and dedicated apps. It is also advisable to consult with a reputable jeweler or gold dealer for accurate and up-to-date information.

What other factors should I consider before investing in gold?

Before investing in gold, it is crucial to consider your financial goals, risk tolerance, and the current market conditions. It is also essential to educate yourself about the different forms of gold investments available, such as physical gold, Gold Exchange Traded Funds (ETFs), and gold mining stocks.

Investing in gold can be a wise decision for diversifying your portfolio and protecting against market volatility. However, it is essential to do thorough research and consult with a financial advisor before making any investment decisions. So, keep yourself updated with the latest gold prices in Pakistan and make informed investment choices.

Future Outlook

As with any commodity, it is difficult to predict the exact future prices of gold. However, based on current trends and market conditions, we can expect the price of gold to continue increasing in Pakistan. This could be due to various factors such as the ongoing pandemic, global economic instability, and high demand for gold as a form of safe investment.

Conclusion

In conclusion, understanding the factors that affect gold prices in Pakistan can help investors make informed decisions. As we have seen, changes in international markets, political stability, currency exchange rates, and domestic demand all play a role in determining the price of gold. It is essential to keep a close eye on these factors to stay updated on the current and future trends of gold prices in Pakistan. So, it is always advisable to do thorough research and consult with experts before making any investment decisions related to gold. We hope this article has provided you with valuable insights and information on the current state of gold prices in Pakistan.