The gold rate in Pakistan for today, Monday 30 October 2023, has been revealed and the numbers are truly fascinating. If you’re an investor or someone who’s planning on purchasing gold, then it’s important to keep an eye on the gold rates in the country. As of today, the gold rate per tola in Pakistan is Rs 215,800.000, which is a considerable amount. Even a single gram of 24 karat gold was being sold for Rs 18,502.000 today.

People who are familiar with the commodity market will know that this is no small amount to pay for a tiny unit of the precious metal. Gold is often considered a hedge against inflation and a safe investment in times of uncertainty. So, it’s no surprise that people are constantly monitoring the gold rates in Pakistan, especially during times of economic fluctuations.

Gold Rate in Pakistan Today 30 October 2023

Gold Rate24K Gold22K Gold21K Gold18K Gold
Per Tola Gold215,800.000197,816.667188,825.000161,850.000
Per 10 Gram Gold185,020.000169,601.667161,892.500138,765.000
Per 1 Gram Gold18,502.00016,960.16716,189.25013,876.500
Per Ounce524,394.000480,694.500458,844.750393,295.500

Today Gold Prices in Pakistan Major Cities 30 October 2023

CityGoldSilver
LahorePKR.215,800PKR 2,304
KarachiPKR.215,800PKR 2,304
IslamabadPKR.215,800PKR 2,304
PeshawarPKR.215,800PKR 2,304
QuettaPKR.215,800PKR 2,304
SialkotPKR.215,800PKR 2,304
AttockPKR.215,800PKR 2,304
GujranwalaPKR.215,800PKR 2,304
JehlumPKR.215,800PKR 2,304
MultanPKR.215,800PKR 2,304
BahawalpurPKR.215,800PKR 2,304
GujratPKR.215,800PKR 2,304
NawabshahPKR.215,800PKR 2,304
ChakwalPKR.215,800PKR 2,304
HyderabadPKR.215,800PKR 2,304
NowshehraPKR.215,800PKR 2,304
SargodhaPKR.215,800PKR 2,304
FaisalabadPKR.215,800PKR 2,304
MirpurPKR.215,800PKR 2,304

The gold rate is an important aspect of the economy in Pakistan, as it affects both individuals and businesses. It represents the value of gold in Pakistani rupees (PKR) per unit, typically calculated for one gram or one tola (approximately 11.66 grams). The gold rates are determined by various factors such as global market trends, supply and demand, inflation, currency exchange rates, and government policies.

Understanding Gold Rates

Gold is a precious metal that has been valued for its beauty and rarity since ancient times. In Pakistan, it holds cultural significance and is often used in jewelry making for special occasions like weddings and festivals. However, it also serves as an investment option for individuals and a reserve asset for the government.

Factors Affecting Gold Rates in Pakistan

As mentioned earlier, several factors influence the gold rates in Pakistan. One of the primary determinants is global market trends, which can be affected by economic and political uncertainties around the world. For instance, if there is a rise in demand for gold due to a weaker stock market or inflation concerns, it can drive up the price of gold.

Another crucial factor is supply and demand within the country itself. If there is a shortage of gold supply in Pakistan, it can lead to an increase in prices. On the other hand, if there is excess supply, it can cause a decrease in rates.

The value of currency also plays a significant role in determining gold rates. As gold is traded in US dollars globally, any fluctuations in the PKR-USD exchange rate can affect the gold rates in Pakistan.

Inflation is another factor that can impact the price of gold. If there is a high inflation rate, investors may turn to gold as a safe-haven investment, leading to an increase in demand and ultimately driving up the rates.

Lastly, government policies and regulations related to imports and exports of gold also influence its rates. For instance, if there are stricter regulations on importing gold into Pakistan, it may cause a shortage of supply and lead to higher prices.

Today’s Gold Rates

On 30 October 2023, the gold rate in Pakistan for 24K, 22K, 21K, and 18K gold per tola and per 10 grams were all set at PKR 215,800 and PKR 185,020 respectively. These rates may vary across different cities in Pakistan, as seen in the table above.

Major Cities Gold Rates

The city of Lahore had the same gold rates as Karachi, Islamabad, Peshawar, Quetta, Sialkot, Attock, Gujranwala, Jehlum, Multan, Bahawalpur, Gujrat,Nawabshah Chakwal Hyderabad Nowshehra Sargodha Faisalabad Mirpur at PKR 215,800 for a tola of gold and PKR 185,020 for 10 grams.

Overall, the gold rates in Pakistan are subject to change on a daily basis and are closely followed by individuals and businesses alike. Understanding the factors that affect these rates can provide an insight into the current economic climate and help make informed decisions regarding investments or purchases involving gold. So, it is essential to keep track of today’s gold rates in Pakistan to stay updated with the latest market trends. The table above provides a glimpse of the rates across major cities in Pakistan; however, individuals can also check live updates online or through various media outlets.

Conclusion

In conclusion, gold rates in Pakistan hold significant importance and are influenced by various factors such as global market trends, supply and demand, currency exchange rates, inflation, and government policies. Individuals and businesses should stay informed about these rates to make sound financial decisions. The gold market in Pakistan is dynamic and subject to change regularly, making it crucial for individuals to regularly monitor the rates to stay updated. We hope this information has provided valuable insights into understanding today’s gold rates in Pakistan.