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Latest Gold Rate in Pakistan

During the pandemic situation, the Gold rate and its demand is continuously increasing. Gold is probably quite a safe investment these days as it is barely losing any value.

Unfortunately, Coronavirus is causing massive problems. The inflation rate is increasing. Gold rates in Pakistan are increasing.

Import of the gold Middle East is considered as the primary market. for gold imports. The gold rates also fluctuate based on USD rates daily.

Due to the cultural ties and the Jewelry business gold is also in high demand in Pakistan. You can convert your gold into cash within any city of Pakistan.

Women tend to buy gold or replace their existing jewelry at regular intervals. So, that’s why Jewelers are present everywhere. When you convert your existing jewelry or order development new jewelry. They charge the making costs on top of the gold rate per quality and weight.

Difference 24K and 22K

It is offered in various forms such as 24K, 22K, etc. 24K signifies 99.9 percent purity, the very best you will buy. 24K gold is bright yellow, and its shine and beauty are unmistakable. 22K is approximately 91 percent pure gold and the other 9 percent usually consisting of copper, silver, or other metals.

In Pakistan, specific Saraf markets in several cities decide the gold rates.

The gold rates in Pakistan also depend upon the overall global demand for gold. Gold is used at very large-scaled in the jewelry making industry.

Gold prices increase when global demand is increasing. When the interest rates are low. The gold rates go high because of the low opportunity cost involved in gold.

At the time of high inflation rates, creditors start losing money. They are more inclined to buy or hold more gold.

According to the released data by the All Sindh Saraf Jewelers Association. Gold rates in the local market rose in the rates in the international market.

10 Gram gold price raised Rs 557 to Rs 80,847.

In the international market, Bullion rates increased $9 to %1,644/ounce.

A jeweler said the international market registered an increase in the prices because of stockers. They were purchasing gold amid issue trade created after the emergence of coronavirus.

However, the price of the local market Rs 1,500/tola lower, as compared with the rate in the Dubai gold market.

Methodology for calculating the Gold Price:

The price of gold is defined as a function of inflation, rate of interest, rate of exchange folks Dollar with Pakistani rupee, stock exchange Performance, price of silver, per capita income, and domestic savings. Gold Price (GP) = f {Inflation (INF), Interest Rates (INT), Foreign Exchange Rate (FOREX), Stock Market Performance (SMP), the Price of Silver (SP), Domestic savings (DS), Per capita income (PCI)},

So, here are the latest 7 days price of 1 Tola gold in Pakistan

09-07-2020112868.4
08-07-2020113302.1
07-07-2020112394.5
06-07-2020111526.1
05-07-2020111525.8
04-07-2020111525.8
03-07-2020111525.8
02-07-2020112035.4

Latest Price 24K and 22K

1 Tola (gram= 11.66) of 24k gold = Rs, 113,353.03 PKR

1 Tola (gram= 11.66) of 22k gold = Rs, 103,907.86 PKR.

About the author

Samia Riaz

I, Samia Riaz memon, a student of 3rd year computer system engineering at Institute of Bussiness Adminstration (IBA). I am a writer, blogger and content creator since 2014. I have been providing my services at different platforms and have worked with alot of organizations and pherms.
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Samia Riaz