Gold holds a significant position in Pakistan’s economy, both as a form of investment and a cultural symbol. Keeping track of daily gold prices is crucial for investors, jewellers, and individuals looking to buy or sell gold. This article provides an overview of the gold rate in Pakistan today, 5 October 2024.
Current Chart of Gold Rate In Pakistan Today 5 Otober 2024
As of October 5, 2024, the gold price in Pakistan is as follows:
| Gold Purity | Price per Tola | Price per 10 Grams |
|---|---|---|
| 24 Karat | Rs. 278,000 | Rs. 238,285 |
| 22 Karat | Rs. 255,750 | Rs. 218,987 |
Disclaimer: Gold prices are subject to change throughout the day due to various market factors. The prices provided above are indicative and based on the prevailing market conditions on October 5, 2024, at [Time of writing – be specific with the time]. For the most current and accurate rates, it is advisable to consult a reputable jeweller or a reliable online source for gold prices.
Factors Influencing Gold Prices in Pakistan
Several factors contribute to the fluctuations in gold prices in Pakistan:
- International Gold Prices: The global gold market plays a major role in determining local prices. Changes in international gold rates, usually denominated in US dollars, directly impact the price of gold in Pakistan.
- USD to PKR Exchange Rate: The value of the Pakistani Rupee against the US dollar significantly influences gold prices. A weaker rupee generally leads to higher gold prices in the local market.
- Local Demand and Supply: Demand for gold in Pakistan, particularly during festive seasons and weddings, can drive prices upward. Conversely, increased supply can lead to a decrease in prices.
- Economic Conditions: Factors such as inflation, interest rates, and overall economic stability within Pakistan can impact investor sentiment and influence gold prices.
- Government Policies and Taxes: Import duties, taxes, and regulations imposed by the government on gold can also affect its price.
Staying Updated on Gold Rates
To stay informed about gold prices in Pakistan, consider these resources:
- Reputable Jewellers: Jewellery shops provide daily updates on gold rates.
- Online Financial News Websites: Many financial news websites and apps provide real-time gold price information and market analysis.
- All Sindh Saraf Jewellers Association (ASSJA): ASSJA is a reliable source for daily gold rates in Karachi, which often serves as a benchmark for other cities.
Investing in Gold
Gold is considered a safe haven asset and a hedge against inflation. Investing in gold can be done through various means:
- Physical Gold: Purchasing gold jewellery, bars, or coins.
- Gold Exchange Traded Funds (ETFs): Investing in gold ETFs that track the price of gold.
- Gold Mutual Funds: Investing in mutual funds that invest in gold mining companies or gold ETFs.
It is important to consult with a financial advisor before making any investment decisions.
Conclusion
The gold rate in Pakistan today, October 5, 2024, is influenced by a multitude of factors, both local and international. Staying informed about these factors and utilizing reliable sources for gold price information is essential for making informed decisions regarding buying, selling, or investing in gold.
