The value of gold fluctuates rapidly, and keeping track of gold rates can be quite challenging. For those interested in buying or selling gold in Pakistan on Sunday 22 Oct, 2023, it’s important to know that the gold rate per Tola is Rs 213,700.000. If you’re looking to buy 24K Gold, it was being sold at Rs 18,322.000 per gram and for those wishing to purchase 10 grams of 24K Gold, it was traded for Rs 183,220.000. A single ounce of 24 Karat Gold was being traded at Rs 519,291.000. It’s crucial to stay updated regarding these rates before taking any significant steps in the buying or selling of gold.

Gold Rate in Pakistan Today 22 October 2023

Today Gold Prices in Pakistan Major Cities 22 October 2023

Gold Rate in Pakistan Today – 22 October 2023

Gold is a highly valued metal and its price is closely monitored by investors all over the world. In Pakistan, gold has always been considered a valuable commodity and its rates are often a topic of interest for many people. Here’s a breakdown of the current gold prices in Pakistan as of 22 October 2023.

Gold Weight and Purity

The rate of gold in Pakistan is dependent on its weight and purity. As of today, the price for 1 gram of 24K gold is Rs.18,322, while 10 grams of 24K gold will cost you Rs.183,220. The price for 1 tola (11.66 grams) of 24K gold is Rs.213,700 and the cost for an ounce (31.1 grams) of 24K gold is Rs.519,291.

In comparison, the rate for 1 gram of 22K gold is Rs.16,795, while 10 grams would cost you Rs.167,951. For 1 tola of 22K gold, the price is Rs.195,891 and for an ounce, it would be Rs.476,016. Similarly, the cost for 1 gram of 21K gold is Rs.16,031 and for 1 gram of 18K gold is Rs.13,741.

Gold Prices in Pakistan – Major Cities (22 October 2023)

Gold has always been considered a valuable and sought-after commodity, especially in countries like Pakistan where it holds cultural significance as well. The price of gold is affected by various factors such as global demand, economic conditions, and supply levels. In this article, we will take a look at the current gold prices in major cities of Pakistan as of 22 October 2023.

Lahore

In Lahore, the gold price per tola (11.66 grams) is PKR 213,700, while the price for 10 grams is PKR 2304.

Karachi

Karachi, being the economic hub of Pakistan, also has a significant impact on gold prices. As of 22 October 2023, the gold price per tola in Karachi is PKR 213,700 and PKR 2304 for 10 grams.

Islamabad

The capital city of Pakistan also follows a similar trend with a current gold price of PKR 213,700 per tola and PKR 2304 for 10 grams.

Peshawar

In Peshawar, the gold price per tola is PKR 213,700 and PKR 2304 for 10 grams, making it a consistent trend across all major cities of Pakistan.

Quetta

The city of Quetta has a slightly different gold price compared to other cities, with a per tola rate of PKR 213,700 and PKR 2304 for 10 grams.

Sialkot

Sialkot also follows the same pattern with a gold price of PKR 213,700 per tola and PKR 2304 for 10 grams.

Attock

Similarly, in Attock, the current gold price per tola is PKR 213,700 and PKR 2304 for 10 grams.

Gujranwala

Gujranwala has a similar gold price trend with a per tola rate of PKR 213,700 and PKR 2304 for 10 grams.

Jehlum

In Jehlum, the gold price is PKR 213,700 per tola and PKR 2304 for 10 grams.

Multan

Multan also follows the same pattern with a gold price of PKR 213,700 per tola and PKR 2304 for 10 grams.

Bahawalpur

The city of Bahawalpur has a current gold price of PKR 213,700 per tola and PKR 2304 for 10 grams.

Gujrat

Similarly, in Gujrat, the gold price per tola is PKR 213,700 and PKR 2304 for 10 grams.

Nawabshah

Nawabshah also follows the same trend with a gold price of PKR 213,700 per tola and PKR 2304 for 10 grams.

Chakwal

In Chakwal, the gold price is PKR 213,700 per tola and PKR 2304 for 10 grams.

Hyderabad

Hyderabad also has a similar trend with a current gold price of PKR 213,700 per tola and PKR 2304 for 10 grams.

Nowshehra

The city of Nowshehra also has a gold price of PKR 213,700 per tola and PKR 2304 for 10 grams as of 22 October 2023.

Sargodha

Similarly, in Sargodha, the gold price per tola is PKR 213,700 and PKR 2304 for 10 grams.

Faisalabad

Faisalabad also follows the same pattern with a gold price of PKR 213,700 per tola and PKR 2304 for 10 grams.

Mirpur

The city of Mirpur has a current gold price of PKR 213,700 per tola and PKR 2304 for 10 grams as of 22 October 2023.

It is important to note that these prices are constantly fluctuating and can change at any time. It is always advisable to check the latest rates before making a purchase or sale.

Factors Affecting Gold Prices

There are various factors that can influence the price of gold in Pakistan. Some of the major ones include:

• Global Demand and Supply: As with any commodity, the demand and supply of gold in the global market have a significant impact on its prices. If there is a high demand for gold and a limited supply, the prices will increase.
• USD to PKR Exchange Rate: The exchange rate between US Dollar (USD) and Pakistani Rupee (PKR) also plays a role in determining the price of gold in Pakistan. Since gold is globally traded in USD, any changes in the exchange rate can affect its local prices.
• Inflation: Inflation is another crucial factor that can impact gold prices in Pakistan. When inflation rises, the value of currency decreases, making gold a more attractive investment option.

Investing in Gold

It provides stability and protection against market volatility. However, it is essential to keep in mind that like any investment, gold also carries risks. It is crucial to research and consult with experts before making any decisions.

Gold Mining in Pakistan

Pakistan has a long history of gold mining, dating back to the Indus Valley Civilization around 3000 BC. However, the country’s gold reserves remain largely untapped due to various reasons such as lack of modern technology and political instability. The government of Pakistan has taken steps to encourage foreign investment in the mining sector and promote an increase in gold production.

Cultural Significance of Gold

Apart from its monetary value, gold also holds great cultural significance in Pakistan. It is often used as gifts during weddings, festivals, and other special occasions. In many parts of the country, women wear gold jewelry as a symbol of wealth and status. Gold is also an essential part of traditional Pakistani attire such as bridal wear and is seen as a source of pride and beauty.

Conclusion

Gold prices in Pakistan have remained relatively stable in major cities on the given date. It is always wise to stay updated on current gold prices before making any investments. So, it is important for individuals and businesses alike to keep an eye on the market trends and make informed decisions regarding gold purchases or investments. Invest smartly and stay updated with the latest gold prices in Pakistan.