Gold Rate Today
On October 6, 2023, the glimmer of gold rate today in Pakistan was valued at a mesmerizing Rs189,900 per tola. It’s a day when the allure of this precious metal truly shines.
Meanwhile, for those who prefer to measure their gold in smaller increments, the rate for every 10 grams stood at a tantalizing Rs164,180 in the bustling bullion market.
Let’s take a closer look at the gold rate today in various cities across the country:
| City | Gold | Silver | ||
| Karachi | PKR 189,900 | PKR 2,465 | ||
| Lahore | PKR 189,900 | KR 2,465 | ||
| Islamabad | PKR 189,900 | PKR 2,465 | ||
| Peshawar | PKR 189,900 | PKR 2,465 | ||
| Quetta | PKR 189,900 | PKR 2,465 | ||
| Sialkot | PKR 189,900 | PKR 2,465 | ||
| Hyderabad | PKR 189,900 | PKR 2,465 | ||
| Faisalabad | PKR 189,900 | PKR 2,465 | ||
| Gold Rates | Gold 24K Today | Gold 22K Today | ||
| Per Tola Gold | PKR 189,900 | PKR 175,540 | ||
| Per 10Gram Gold | PKR 164,180 | PKR 150,497 | ||
| Per Gram Gold | PKR 16,418 | PKR 15,050 | ||
It’s worth noting that gold rate today in Pakistan experience frequent fluctuations in line with the international market, making them far from static. These prices are never set in stone and tend to shift over time. To keep the public informed, local gold markets and Sarafa Markets in various cities diligently provide updates on these ever-changing rates.
In this ever-evolving world of gold, staying updated with the latest prices is key for both investors and enthusiasts alike.
Gold prices are influenced by a complex interplay of various factors, and understanding these dynamics can shed light on why this precious metal’s value fluctuates. Here are some key factors that influence gold prices:
- Supply and Demand: Like any commodity, gold prices are heavily influenced by supply and demand dynamics. An increase in demand, whether for jewelry, investment, or industrial purposes, can drive prices higher if the supply remains relatively stable.
- Economic Conditions: Economic factors play a significant role. In times of economic uncertainty or recession, investors often turn to gold as a safe-haven asset, driving up demand and prices. Conversely, during periods of economic growth and stability, gold prices may decrease as investors seek higher returns elsewhere.
- Inflation: Gold is often viewed as a hedge against inflation. When the purchasing power of a currency declines due to rising inflation, people may turn to gold as a store of value, causing its price to rise.
- Geopolitical Events: Political instability, conflicts, and geopolitical tensions can boost gold prices as investors seek refuge in assets considered safe during turbulent times.
- Currency Strength: The value of gold is inversely related to the strength of a country’s currency. A weaker currency can make gold more expensive for holders of that currency, potentially driving up demand and prices.
- Interest Rates: Interest rates set by central banks have a significant impact on gold prices. When interest rates are low, the opportunity cost of holding gold (which doesn’t yield interest or dividends) is lower, making gold more attractive. Conversely, rising interest rates can lead to lower gold prices.
- Central Bank Policies: Central banks’ actions, such as buying or selling gold reserves, can influence prices. Large-scale purchases by central banks can signal confidence in gold as a safe asset, positively impacting prices.
- Speculation: Speculative trading in the futures and options markets can lead to short-term price volatility. Traders often respond to news and sentiment, causing rapid price movements.
- Technological Demand: Gold is used in various industries, including electronics and dentistry. Changes in industrial demand can affect prices.
- Mining Production: The level of gold production by mining companies can impact supply. Decreases in production or disruptions in mining operations can lead to reduced supply and higher prices.
- Jewelry Demand: Jewelry represents a significant portion of gold consumption. Cultural events, such as weddings and festivals, can influence jewelry demand and, consequently, prices.
- Environmental Factors: Environmental regulations and concerns related to gold mining can affect production costs and, in turn, gold prices.
It’s important to note that these factors are interconnected, and the gold market is sensitive to both global events and market sentiment. As a result, gold prices can exhibit significant volatility over time.
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