Gold rates in Pakistan have seen a steady rise in recent years, due to a number of factors. Firstly, the global price of gold has been on the rise, due to increased demand from countries like China and India. Secondly, the Pakistani rupee has been weakening against the US dollar, making gold more expensive in Pakistan. Lastly, there is growing uncertainty in Pakistan, due to political and economic instability, which has led to increased demand for gold as a safe investment.
(Infosette News) KARACHI: According to ARY News, domestic gold prices on Saturday decreased by Rs3750 per tola.
The price of gold per tola in the local market decreased by Rs3750 to settle at Rs147,600, according to the All Pakistan Jewellers Manufacturers Association (APJMA).
10 grams of gold cost Rs126,500, a drop of Rs3216.
On July 28, the price of a tola of gold rose to an all-time high of Rs162,500.
The relentless rise in the value of the dollar and Treasury yields as the Federal Reserve adopts a more aggressive posture to rein in soaring inflation caused gold prices to fall over 1.5% to their lowest level since April 2020 on the international market.
After falling as high as 1.8% earlier in the day to $1,640.20 per ounce, spot gold was down 1.6% at $1,644.04 per ounce.
The price of U.S. gold futures was $1,655.60, down 1.5%.
Gold rates in Pakistan
|Gold Rate||24K Gold||22K Gold||21K Gold||18K Gold|
|Per Tola Gold||Rs. 147600||Rs. 135299||Rs. 129150||Rs. 110700|
|Per 10 Gram||Rs. 126500||Rs. 115957||Rs. 110688||Rs. 94875|
|Per Gram Gold||Rs. 12650||Rs. 11596||Rs. 11069||Rs. 9488|
|Per Ounce||Rs. 358600||Rs. 328714||Rs. 313775||Rs. 268950|