Today, the gold rates in Pakistan have remained steady. As of 18 October 2023, the gold rate per Tola in Pakistan is Rs 209,200.000. This means that for every 10 grams of 24K gold, you can expect to pay Rs 179,360.000. This news may come as a relief to many investors who have been tracking gold prices and waiting for the right moment to make their move. If you’re in the market for some gold, now may be the perfect time to make a purchase. Whether you’re looking to invest or simply treat yourself to a stunning piece of jewelry, the current rates are definitely worth considering.
Gold Rate in Pakistan Today 18 October 2023
|GOLD WEIGHT||GOLD PURITY||RATE TODAY 18 October 2023|
|1 Gram Gold||24K||Rs.17,936|
|10 Grams||24K||Rs. 179,360|
|1 Tola||24K||Rs. 209,200|
|1 Gram Gold||22K||Rs.16,441|
|1 Gram Gold||21K||Rs.15,694|
|10 Grams||21K||Rs. 156,940|
|1 Gram Gold||18K||Rs.13,452|
This article provides information on the current gold rates in Pakistan as of 18 October 2023.
Today Gold Rates in Pakistan Major Cities 18 October 2023
Gold has always been a valuable and sought-after metal in Pakistan, with a rich cultural significance as well. It is not only used for jewelry but also plays a major role in the economy of the country. The gold market is an important component of the financial landscape in Pakistan, and it is closely monitored by investors, traders, and the general public alike.
The city of Lahore has been a major center for gold trading in Pakistan for centuries. As the capital of Punjab, it boasts a bustling market with numerous shops and outlets selling an array of gold items. On 18 October 2023, the price of gold in Lahore was recorded at PKR.209,200 for 10 grams of 24 karat gold, while the rate for 10 grams of silver was PKR.2,304.
Karachi, the largest city and economic hub of Pakistan, also saw a similar price for gold on that day as Lahore. With its diverse population and extensive business activities, Karachi has a high demand for gold and thus plays a significant role in determining the country’s overall gold rates.
Islamabad, the capital city of Pakistan, is another major player in the gold market. The price of gold on 18 October 2023 in Islamabad was also PKR.209,200 for 10 grams of 24 karat gold, with silver being priced at PKR.2,304 for 10 grams.
Peshawar, the capital of Khyber Pakhtunkhwa province, has a rich history in gold trading and is home to many famous gold markets. On 18 October 2023, the price of gold in Peshawar was PKR.209,200 for 10 grams of 24 karat gold, with silver priced at PKR.2,304 for 10 grams.
Quetta, the capital city of Balochistan province, also saw a similar price for gold on that day as other major cities in Pakistan. The gold rate in Quetta on 18 October 2023 was PKR.209,200 for 10 grams of 24 karat gold, while the rate for 10 grams of silver was PKR.2,304.
Sialkot, known for its thriving sports goods industry, is another city where gold trading is a major economic activity. The price of gold in Sialkot on 18 October 2023 was recorded at PKR.209,200 for 10 grams of 24 karat gold, with silver being priced at PKR.2,304 for 10 grams.
Attock, a city in Punjab known for its oil and gas reserves, has also been a major player in the gold market. On 18 October 2023, the price of gold in Attock was PKR.209,200 for 10 grams of 24 karat gold, and silver was priced at PKR.2,304 for 10 grams.
Other major cities in Pakistan such as Gujranwala, Jehlum, Multan, Bahawalpur, Gujrat, Nawabshah, Chakwal, Hyderabad, Nowshehra, Sargodha, Faisalabad and Mirpur also saw similar gold rates on 18 October 2023, highlighting the uniformity of prices in major cities. This reflects the stability and efficiency of the gold market in Pakistan.
Types of Gold Purity
Gold comes in different purities which are measured in karats (K).The higher the karat, the greater the purity of the gold. In Pakistan, you can find gold with purities of 24K, 22K, 21K, and 18K.
- 24 Karat Gold: This represents the highest level of gold purity, boasting an exceptional 99.9% purity rating.
- It is soft and malleable, making it ideal for jewelry-making.
- 22 Karat Gold: This type of gold has a purity of 91.6% and is commonly used for jewelry as it is durable and more affordable than 24K gold.
- 21 Karat Gold: With a purity of 87.5%, this type of gold is also popular for making jewelry in Pakistan.
- 18 Karat Gold: This gold has a purity of 75% and is often used in high-end jewelry pieces.
Why are Gold Rates Important?
Gold rates hold significance in many ways. Firstly, they impact the country’s economy as gold is one of Pakistan’s major exports. Secondly, it serves as a hedge against inflation and currency fluctuations. Moreover, gold rates also reflect market sentiment and demand for this precious metal.
The gold rates in Pakistan today 18 October 2023 for 1 gram of 24k gold is Rs. 17,936, 10 Grams of 24k gold is Rs.179,360 and 1 Tola of 24k gold is Rs.209,200 also the rate for 1 ounce/tola of 24K Gold is Rs. 508,353. Similarly 1 Gram of 22k gold rate is Rs.16,441 whereas 10 Gram of 22K Gold rate is 164,413 and 1 Tola and 22K Gold rate being 191,766 per ounce. Also 1 Gram of 21K gold price being 15,694 while tola quantity 21kgold price being 183,050 per ounce.
Lastly 1 Gram of 18K Gold being 13,452 and 10 Grams 18Kgold at 134 520 per ounce and the Tola price being 156 900 This data shows a hike in gold rates since the start of this year which suggests the best time to invest in precious metals like gold right now after gathering all with all relevant information about prices. Prices are bound to fluctuate quickly so take an informed decision before investing!