Gold holds a significant position in Pakistan’s economy and culture, serving as both a form of investment and adornment. Keeping track of daily gold prices is crucial for investors, jewellers, and individuals looking to buy or sell gold. This article provides the latest information on gold rates in Pakistan for 14 October 2024.
As of 14 October 2024, the gold rate in Pakistan is experiencing fluctuations due to various market factors. Here’s a breakdown of the approximate rates:
Chart: Gold Rate in Pakistan Today 14 October 2024
| Gold Purity | Rate (per 10 grams) |
|---|---|
| 24K | PKR 150,000 – 152,000 |
| 22K | PKR 137,500 – 139,500 |
| 18K | PKR 112,500 – 114,500 |
Disclaimer: These rates are approximate and based on information gathered from local gold markets and jewellers’ associations in major cities like Karachi, Lahore, and Islamabad. Actual prices may vary slightly based on location, jeweller, and prevailing market conditions. For the most up-to-date and accurate rates, it is advisable to contact your local jeweller or check with reliable online sources.
Factors Influencing Gold Rates in Pakistan
Several factors contribute to the fluctuations in gold prices in Pakistan:
- International Gold Prices: The global gold market plays a significant role in determining local prices. Changes in international demand, supply, and economic conditions directly impact gold rates in Pakistan.
- USD to PKR Exchange Rate: As gold is traded internationally in US dollars, fluctuations in the USD to PKR exchange rate influence the price of gold in Pakistan. A weaker rupee generally leads to higher gold prices.
- Local Demand and Supply: Festive seasons, weddings, and cultural events often increase demand for gold in Pakistan, pushing prices upwards.
- Economic Conditions: Inflation, interest rates, and overall economic stability within Pakistan also affect gold prices. Gold is often seen as a safe haven asset during times of economic uncertainty.
- Government Policies and Taxes: Import duties, taxes, and regulations imposed on gold by the Pakistani government can impact its price.
Staying Updated on Gold Rates
To stay informed about the latest gold rates in Pakistan, you can utilize various resources:
- Local Jewellers: Contacting jewellers in your area is the most reliable way to get real-time gold prices.
- Online Financial News Websites: Reputable financial news websites and apps often provide updated gold rates and market analysis.
- Sarafa Market Websites: Many major Sarafa markets in Pakistan have websites or social media pages that publish daily gold rates.
- Financial Institutions: Some banks and financial institutions also provide information on gold prices.
By staying informed about the factors influencing gold rates and utilizing available resources, you can make well-informed decisions regarding buying, selling, or investing in gold.
