The gold rate in Pakistan is a key financial metric closely monitored by investors, jewelers, and consumers. Gold serves as a hedge against inflation and a secure investment during economic uncertainties. With fluctuations in the international gold market and local currency, staying updated on the daily gold rates is essential.
This article provides an overview of the gold rate in Pakistan today, 20 October 2024, and discusses the factors influencing gold prices.
Chart of Gold Rate In Pakistan Today 20 October 2024
| Gold Type | Price (PKR) |
|---|---|
| 24K per Tola | 225,000 |
| 24K per 10 Grams | 192,900 |
| 22K per Tola | 206,250 |
| 22K per 10 Grams | 176,825 |
Disclaimer: Gold prices are subject to change throughout the day due to market dynamics. The provided rates are approximations based on current market conditions. For the most accurate and up-to-date information, consult a reliable source or a local gold market.
Factors Influencing the Gold Rate in Pakistan
Several factors contribute to the fluctuation of gold rates in Pakistan:
1. International Gold Prices
- The global price of gold, often measured in U.S. dollars per ounce, directly impacts the local gold rates. Factors such as global economic conditions, geopolitical tensions, and U.S. Federal Reserve policies can lead to significant changes in international gold prices.
2. USD to PKR Exchange Rate
- Since gold is traded internationally in U.S. dollars, the exchange rate between the U.S. dollar and the Pakistani rupee (USD to PKR) plays a crucial role. A stronger U.S. dollar or a depreciating Pakistani rupee can lead to higher local gold prices.
3. Inflation and Economic Conditions
- Gold is considered a safe-haven asset during times of inflation and economic instability. When inflation is high or the economy is uncertain, the demand for gold typically increases, driving up its price.
4. Local Demand and Supply
- The demand for gold in Pakistan, especially during wedding seasons or cultural festivities, can influence its price. Similarly, the availability of gold in the local market can affect the rates.
5. Government Policies and Import Duties
- Government regulations, import duties, and taxation on gold imports can impact the gold rate in the local market. Any changes in these policies may lead to fluctuations in gold prices.
Other Precious Metal Prices in Pakistan as of 20 October 2024
| Metal | Price (PKR) |
|---|---|
| Silver per Tola (24K) | 2,800 |
| Platinum per Tola | 290,000 |
Staying Updated on Gold Prices
To keep up with the latest gold rates in Pakistan, consider the following resources:
- Gold Market Websites: Various online platforms provide daily gold rates for different cities in Pakistan.
- Local Jewelers: Visit nearby jewelry shops to get the latest prices and market trends.
- Financial News Websites: Check reputable financial news sources for updates on precious metal prices.
- State Bank of Pakistan: The official website often provides information on currency rates, which can influence gold prices.
Conclusion
The gold rate in Pakistan today, 20 October 2024, is an important indicator for anyone involved in buying or selling gold. By understanding the factors affecting gold prices and keeping track of the daily rates, you can make informed decisions about investing in or purchasing gold. Stay updated with reliable sources to stay ahead of market trends and fluctuations.
