Introduction:
Gold is a precious metal that is widely used as jewellery and investment in Pakistan.
Sarafa market
The gold rate in Pakistan varies by city and is set by the Sarafa market in each city. The Sarafa market is the association of gold traders and bullion dealers who determine the price based on supply and demand, international gold price, exchange rate, taxes and other factors.
Gold rate :
As of Friday, 14 July 2023, the gold rate in Pakistan is Rs. 206,700 24K per tola, Rs. 162,444 22K per 10 gram, Rs. 180,910 21K per tola and Rs. 132,909 18K per 10 gram .
- The gold price in Pakistan is influenced by various factors such as global economic and political events, inflation, interest rates, currency fluctuations, local demand and supply, import duties, smuggling and speculation.
Gold buying reasons:
Gold is considered a safe haven asset that can hedge against inflation, currency devaluation and market volatility. Many people in Pakistan buy gold as a form of saving or investment, especially during uncertain times or festive occasions such as weddings and Eid.
Popularity of Gold:
Gold is also a symbol of status, wealth and culture in Pakistan. Many women wear gold jewellery as part of their traditional attire or as a gift from their families. Gold jewellery is also a popular dowry item in some communities.
Gold buying forms:
Gold can be bought in various forms such as bars, coins, biscuits, jewellery or ornaments. The purity of gold is measured in karats, which indicate the percentage of gold in the alloy. The most common karats are 24K (99.9% gold), 22K (91.6% gold), 21K (87.5% gold) and 18K (75% gold).
How much equal to one tola?:
One tola is a traditional unit of weight for gold in Pakistan, which is equal to 11.66 grams. One gram is equal to 0.03215 troy ounce. The international gold price is usually quoted in US dollars per troy ounce.
How to check latest prices of gold ?:
There are many sources to check the latest gold price in Pakistan such as newspapers, websites, mobile apps, TV channels or radio stations.
Some of the reliable websites are:
- https://goldrateinpakistan.net/
- https://www.goldrate24.com/gold-prices/asia/pakistan/
https://hamariweb.com/finance/gold_rate/
- https://goldpricepakistan.com/
- http://goldpricez.com/pk/gram
