The price of gold is a topic of great interest for investors and individuals alike. In Pakistan, the gold rate in Pakistan fluctuate frequently, following the trends in the international market. As of June 22, 2023, the gold prices in major cities of Pakistan remained consistent, with Karachi, Lahore, Islamabad, Peshawar, Quetta, Sialkot, Hyderabad, and Faisalabad all quoting the same rates. In this article, we will delve into the current gold rates in Pakistan, focusing on 24-karat and 22-karat gold prices, as well as explore the reasons behind the fluctuating gold prices.
Gold Rates in Major Pakistani Cities: As of June 22, 2023, the gold rate for a single tola (approximately 11.66 grams) of 24-karat gold in Karachi and other major cities of Pakistan stood at PKR 218,000. The price for 22-karat gold was recorded at PKR 200,199 per tola. It is noteworthy that these rates are provided by local gold markets and Sarafa Markets across the country. Let’s take a closer look at the gold rates in different forms:
- Gold Rates for 24K and 22K: The gold rates for 24-karat and 22-karat gold in Pakistan are as follows:
- Per Tola Gold:
- 24K Gold: PKR 218,000
- 22K Gold: PKR 200,199
- Per 10 Gram Gold:
- 24K Gold: PKR 187,250
- 22K Gold: PKR 171,645
- Per Gram Gold:
- 24K Gold: PKR 18,725
- 22K Gold: PKR 17,164
| City | Gold | Silver |
| Karachi | PKR 218,000 | PKR 2,650 |
| Lahore | PKR 218,000 | PKR 2,650 |
| Islamabad | PKR 218,000 | PKR 2,650 |
| Peshawar | PKR 218,000 | PKR 2,650 |
| Quetta | PKR 218,000 | PKR 2,650 |
| Sialkot | PKR 218,000 | PKR 2,650 |
| Hyderabad | PKR 218,000 | PKR 2,650 |
| Faisalabad | PKR 218,000 | PKR 2,650 |
Gold Rate Per Tola
| Gold Rates | Gold 24K Today | Gold 22K Today |
| Per Tola Gold | PKR 218,000 | PKR 200,199 |
| Per 10Gram Gold | PKR 187,250 | PKR 171,645 |
| Per Gram Gold | PKR 18,725 | PKR 17,164 |
Understanding Fluctuating Gold Prices: The fluctuating gold prices in Pakistan are primarily influenced by the international market. Gold is a globally traded commodity, and its value is affected by various factors, including geopolitical events, economic conditions, and supply and demand dynamics. Let’s explore some of these factors:
- International Market Trends: The price of gold in the international market plays a significant role in determining the rates in Pakistan. Fluctuations in global gold prices, which are affected by factors like inflation, interest rates, and currency fluctuations, directly impact the local rates.
- Economic Indicators: Economic indicators, such as GDP growth, employment rates, and inflation, have a considerable influence on gold prices. During times of economic uncertainty or inflationary pressures, investors tend to flock towards gold as a safe-haven asset, driving up its demand and price.
- Currency Exchange Rates: The exchange rate between the Pakistani rupee and major international currencies, particularly the US dollar, also affects the gold rates in Pakistan. A weaker local currency against the dollar often leads to higher gold prices, as gold becomes relatively more expensive to import.
Conclusion: Keeping an eye on the gold rates is crucial for individuals and investors who are interested in buying or selling gold in Pakistan. As of June 22, 2023, the gold rates for 24-karat and 22-karat gold remained consistent in major cities, with Karachi serving as a benchmark for gold prices across the country. It’s important to note that these rates are subject to change due to fluctuations in the international market. Therefore, individuals should stay updated with the latest rates from local gold markets and Sarafa Markets before making any gold-related transactions.
