Gold holds a significant position in Pakistan’s economy, serving as both a valuable asset and a traditional form of investment, especially during times of economic uncertainty. Many Pakistanis consider gold a safe haven for their savings. Therefore, keeping track of daily gold prices is crucial for investors and individuals alike.
As of October 4, 2024, the gold rate in Pakistan is experiencing some fluctuations. Here’s a breakdown:
Chart: Gold Rate in Pakistan Today 4 October 2024
Gold Purity | Rate (per tola) | Rate (per 10 grams) |
---|---|---|
24K | Rs. 274,400 | Rs. 235,254 |
22K | (Calculate based on 24K rate and current market variations) | (Calculate based on 24K rate and current market variations) |
Disclaimer: Gold prices are highly dynamic and can change multiple times throughout the day due to various market influences. The provided information is an approximation based on the prevailing market conditions on October 4, 2024, gathered from sources like the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). For the most current and accurate rates, it is highly recommended to consult a reputable jeweler or a reliable online source for live gold prices.
Factors Influencing Gold Rate in Pakistan
The gold rate in Pakistan is influenced by a complex interplay of factors, including:
- International Gold Prices: The global gold market plays a dominant role. Changes in the international price of gold (usually quoted in US dollars per ounce) directly impact local prices.
- USD to PKR Exchange Rate: Fluctuations in the value of the Pakistani Rupee against the US dollar significantly affect the gold rate in Pakistan. A weaker rupee generally leads to higher gold prices.
- Local Demand and Supply: Demand for gold in Pakistan, particularly during festive seasons and weddings, can drive prices upward. Conversely, increased supply can exert downward pressure on prices.
- Economic Conditions: Economic instability, inflation, and political uncertainty often lead to increased demand for gold as a safe-haven asset, pushing prices higher.
- Government Policies and Taxes: Import duties, taxes, and regulations related to gold trading can influence the final price of gold in the local market.
- Investor Sentiment: Market sentiment and investor behavior can also contribute to short-term fluctuations in gold prices.
Staying Updated on Gold Rates in Pakistan
To stay informed about gold rates in Pakistan, consider these resources:
- Jewellery Shops: Local jewelers provide daily gold rate updates.
- Online Financial News Websites: Reputable financial news websites and apps often publish live gold prices and market analysis.
- Dedicated Gold Trading Websites: Several websites specialize in providing real-time gold price information and market trends.
- All-Pakistan Gems and Jewellers Sarafa Association (APGJSA): This association provides daily gold rate updates for various cities in Pakistan.
Investing in Gold in Pakistan
Gold can be purchased in various forms in Pakistan, including:
- Gold Jewellery: This is the most traditional form of gold investment in Pakistan.
- Gold Bars and Coins: Investing in gold bars and coins offers a more direct and cost-effective way to acquire gold.
- Gold ETFs (Exchange Traded Funds): Gold ETFs provide a convenient way to invest in gold without physically holding it.