On Sunday, the price of gold in Karachi, Pakistan stood at Rs 213,200 per tola for 24-karat gold. Meanwhile, the cost of 10 grams of 24k gold was Rs 182,620. Similarly, 10 grams of 22k gold sold for Rs 163,624, and a single tola of 22k gold was priced at Rs 190,849. It is important to note that gold prices in Pakistan are influenced by the global market and are subject to constant fluctuation. The prices mentioned above represent the rates observed in various gold markets and Sarafa Markets across different cities.
Gold and Silver Prices in Major Cities of Pakistan
As of July 16, 2023, the price of gold and silver in several major cities of Pakistan are as follows:
| City | Gold (per tola) | Silver (per tola) |
|---|---|---|
| Lahore | PKR 213,200 | PKR 2,595 |
| Karachi | PKR 213,200 | PKR 2,595 |
| Islamabad | PKR 213,200 | PKR 2,595 |
| Peshawar | PKR 213,200 | PKR 2,595 |
| Quetta | PKR 213,200 | PKR 2,595 |
| Sialkot | PKR 213,200 | PKR 2,595 |
| Attock | PKR 213,200 | PKR 2,595 |
| Gujranwala | PKR 213,200 | PKR 2,595 |
| Jehlum | PKR 213,200 | PKR 2,595 |
| Multan | PKR 213,200 | PKR 2,595 |
| Bahawalpur | PKR 213,200 | PKR 2,595 |
| Gujrat | PKR 213,200 | PKR 2,595 |
| Nawabshah | PKR 213,200 | PKR 2,595 |
| Chakwal | PKR 213,200 | PKR 2,595 |
| Hyderabad | PKR 213,200 | PKR 2,595 |
Price Fluctuations Based on Global Market Conditions
The price of gold in Pakistan is determined by various factors, with the global market being a major influencer. Gold prices are sensitive to changes in the global economy, geopolitical events, and supply and demand dynamics. As a result, gold rates are subject to frequent fluctuations.
Investors and individuals interested in purchasing gold often keep a close eye on international market trends to gauge the ideal time for buying or selling gold. Economic indicators such as inflation rates, interest rates, and stock market performance can provide insights into the future direction of gold prices.
Gold as a Safe-Haven Investment
Gold has long been considered a safe-haven investment during times of economic uncertainty. When traditional financial markets experience volatility or economic crises emerge, investors often turn to gold as a store of value and a hedge against inflation. The precious metal’s scarcity and inherent value make it an attractive option for those seeking stability in their investment portfolios.
Historically, gold has shown resilience and maintained its value over time. It has served as a reliable means of preserving wealth, particularly during periods of currency devaluation or economic instability. Consequently, gold has remained a popular choice for investors looking for long-term asset preservation.
Experts’ Outlook on Gold Prices
Financial analysts and experts closely monitor the global economic landscape to predict future trends in gold prices. While it is challenging to accurately forecast market movements, these professionals utilize various indicators and historical data to provide insights into potential price movements.
Additionally, market sentiment, investor behavior, and geopolitical developments play crucial roles in shaping gold prices. It is advisable for individuals interested in investing in gold to consult financial experts or conduct thorough research before making any decisions.
Related Article: Gold Price in Pakistan Today – 13 July 2023
Conclusion
As of July 16, 2023, the price of gold in Pakistan remained stable, with slight variations observed across different cities. Gold prices in the country are subject to fluctuations due to factors such as global market conditions, economic indicators, and geopolitical events. Investors and individuals interested in purchasing gold should closely monitor market trends and seek professional advice to make informed investment decisions. Gold’s historical value as a safe-haven investment and its ability to preserve wealth have contributed to its enduring popularity among investors.
