Gold Rate in Pakistan Today 8th October 2023
The rate of gold in Pakistan on October 8th, 2023, has been a topic of interest for many people. As of now, 24-karat gold can be purchased at Rs187,500 per tola, and 22-karat gold at Rs171,875 per tola. If you prefer smaller quantities, 10 grams of 24-karat gold are currently selling at Rs160,751, whereas 10 grams of 22-karat gold can be obtained for Rs147,355.
While the value of pure gold in Pakistan has been facing a decline, this is actually a great time for those looking to purchase this precious metal. From investors to enthusiasts, everyone can benefit from the current rates of gold in Pakistan. Gold remains a highly sought-after commodity in the market and is a great option to consider for anyone interested in purchasing, so this is definitely the best time to invest in it.
Gold Rate in Pakistan Today 8 October 2023
| Gold Rate | 24K Gold Rate Today | 22K Gold Rate Today |
| 1 Tola Gold | Rs.187,500 | Rs. 171,875 |
| per 10 Grams | Rs.160,751 | Rs.147,355 |
| per Gram Gold | Rs. 16118 | Rs. 14775 |
Gold Price in Pakistan Today 8 October 2023
The gold rates in Pakistan continue to fluctuate due to changes in international market trends. As of 8th October 2023, the price of 24K gold per tola is Rs. 187,500, while the rate for 22K gold stands at Rs. 171,875 per tola. When considering the rate per 10 grams, 24K and 22K gold are priced at Rs. 160,751 and Rs. 147,355 respectively. On a per gram basis, 24K gold costs Rs. 16,118 and 22K gold is at Rs. 14,775. Please note that these rates are subject to change and should be checked regularly for the most accurate and up-to-date information.
1 Tola Gold price in Pakistan Today 8 October 2023
As of today, 8th October 2023, the gold prices in Pakistan stand as follows: 1 Tola of 24K gold is priced at Rs. 187,500, while the same quantity of 22K gold is available at Rs. 171,875. When we look at the rate per 10 grams, the 24K and 22K gold prices are Rs. 160,751 and Rs. 147,355 respectively. The rate per gram for 24K gold is Rs. 16,118 and for 22K gold, it is Rs. 14,775. Please note, these rates are subject to market fluctuations and can change rapidly. Last updated on 8th October 2023.
Today Gold Rates in Pakistan Major Cities 8 October 2023
| City | Gold Rates | Silver Rates |
|---|---|---|
| Lahore | PKR 191,800 | PKR 2,215 |
| Karachi | PKR 191,800 | PKR 2,215 |
| Islamabad | PKR 191,800 | PKR 2,215 |
| Peshawar | PKR 191,800 | PKR 2,215 |
| Quetta | PKR 191,800 | PKR 2,215 |
| Sialkot | PKR 191,800 | PKR 2,215 |
| Attock | PKR 191,800 | PKR 2,215 |
| Gujranwala | PKR 191,800 | PKR 2,215 |
| Jehlum | PKR 191,800 | PKR 2,215 |
| Multan | PKR 191,800 | PKR 2,215 |
| Bahawalpur | PKR 191,800 | PKR 2,215 |
| Gujrat | PKR 191,800 | PKR 2,215 |
| Nawabshah | PKR 191,800 | PKR 2,215 |
| Chakwal | PKR 191,800 | PKR 2,215 |
| Hyderabad | PKR 191,800 | PKR 2,215 |
| Nowshehra | PKR 191,800 | PKR 2,215 |
| Sargodha | PKR 191,800 | PKR 2,215 |
| Faisalabad | PKR 191,800 | PKR 2,215 |
| Mirpur | PKR 191,800 | PKR 2,215 |
Gold and silver are two precious metals that have been used for centuries as a form of currency, investment, and adornment. In Pakistan, these metals hold great cultural and economic significance. The country is one of the largest consumers of gold and silver in the world, with jewelry making and investment being the major reasons for its high demand.
City-wise Rates
Lahore:
The cultural hub of Pakistan, Lahore, also has a significant appetite for gold and silver. As of 8 October 2023, the current gold rate in Lahore stands at PKR 191,800 per tola (12 grams), while silver is priced at PKR 2,215 per tola.
Karachi:
The financial capital of Pakistan, Karachi, has the same rates as Lahore for gold and silver. The city also houses one of the biggest bullion markets in the country, where traders and investors can buy or sell these precious metals.
Islamabad:
As the capital city of Pakistan, Islamabad is home to various government offices and foreign embassies. It is also a hub for gold and silver trading, where the current rates are the same as Lahore and Karachi.
Peshawar:
The city of Peshawar, located in the Khyber Pakhtunkhwa province, has a rich history and is known for its traditional jewelry making. As of 8 October 2023, the gold and silver rates in Peshawar are PKR 191,800 and PKR 2,215 per tola respectively.
Quetta:
The capital of Balochistan province, Quetta, is another important city when it comes to gold and silver trading. The current rates for these metals in Quetta are the same as other major cities in Pakistan.
Sialkot:
Known for its sports industry and skilled craftsmen, the city of Sialkot has a significant demand for gold and silver. The current rates in Sialkot are PKR 191,800 for gold and PKR 2,215 for silver per tola.
Other Major Cities
Apart from the cities mentioned above, here are the current rates for gold and silver in other major cities of Pakistan as of 8 October 2023:
- Attock: Gold = PKR 191,800; Silver = PKR 2,215
- Gujranwala: Gold = PKR 191,800; Silver = PKR 2,215
- Jehlum: Gold = PKR 191,800; Silver = PKR 2,215
- Multan: Gold = PKR 191,800; Silver = PKR 2,215
- Bahawalpur: Gold = PKR 191,800; Silver = PKR 2,215
- Gujrat: Gold = PKR 191,800; Silver = PKR 2,215
- Nawabshah: Gold = PKR 191,800; Silver = PKR 2,215
- Chakwal: Gold = PKR 191,800; Silver = PKR 2,215
- Hyderabad: Gold = PKR 191,800; Silver = PKR 2,215
- Nowshehra: Gold = PKR 191,800; Silver = PKR 2,215
- Sargodha: Gold = PKR 191,800; Silver = PKR 2,215
- Faisalabad: Gold = PKR 191,800; Silver = PKR 2,215
- Mirpur: Gold = PKR 191,800; Silver = PKR 2,215
Factors Affecting Gold Rates In Pakistan
Gold rates in Pakistan are influenced by a variety of factors, both domestic and international. As one of the largest gold trading countries in the world, changes in gold rates can have a significant impact on the economy of Pakistan.
Domestic Factors
Supply and Demand
The most direct influence on gold rates in Pakistan is the supply and demand of gold within the country. Gold is a highly sought after commodity in Pakistan, with both individuals and businesses purchasing it for various purposes such as jewelry making, investment, and religious ceremonies.
Any changes in the demand for gold can affect its price in the local market. For instance, an increase in demand during wedding season or festivals can lead to a surge in gold rates.
On the other hand, changes in the supply of gold can also impact its price. If there is a shortage of gold in the market, prices are likely to go up as buyers compete for limited supply. Conversely, an oversupply of gold can lead to lower prices.
Inflation and Interest Rates
Inflation and interest rates also play a significant role in determining gold rates in Pakistan. When inflation is high, the value of currency decreases, making gold a more attractive investment option. This can lead to an increase in demand for gold and subsequently drive up its price.
Similarly, when interest rates are low, investors may turn to gold as a safe-haven asset, which can also contribute to an increase in demand and prices.
International Factors
Global Gold Market
As a major player in the global gold market, Pakistan is greatly affected by changes in international gold prices. If there is a rise in gold prices globally, it is likely to be reflected in the local market as well.
Factors such as political instability, economic conditions, and trade tensions among major countries can all impact international gold rates and indirectly affect gold prices in Pakistan.
US Dollar Exchange Rate
Pakistan’s currency, the Pakistani rupee, is directly linked to the US dollar. As a result, any changes in the exchange rate between the two currencies can have a significant impact on gold rates in Pakistan.
When the rupee depreciates against the dollar, it takes more rupees to purchase an ounce of gold, causing gold prices to increase in the local market. Conversely, a strengthening of the rupee can lead to lower gold rates.
It is important to note that these rates are subject to change on a daily basis depending on various factors such as international market trends, currency exchange rates, and local demand. Therefore, it is recommended to stay updated with the latest rates before making any purchase or investment decisions. So, keep an eye on our daily updates to stay informed about the gold and silver rates in Pakistan. Keep track of daily rates for gold and silver in major cities of Pakistan to make informed purchasing or investment decisions.
