Gold holds a prominent position in Pakistan’s economy and culture, serving as a popular investment, a symbol of wealth, and an integral part of traditional ceremonies. Keeping track of gold rates is essential for investors, jewelers, and individuals planning to buy or sell gold. Â
This article provides an overview of gold rates in Pakistan today, 18 October 2024, along with insights into the factors that influence these prices.
Current Gold Rates in Major Cities
As of 18 October 2024, the gold rates in Pakistan’s major cities are as follows:
| City | 24K Gold (per tola) | 22K Gold (per 10 grams) | Silver (per tola) |
|---|---|---|---|
| Karachi | Rs. 278,600 | Rs. 239,000 | Rs. 3,050 |
| Lahore | Rs. 278,800 | Rs. 239,200 | Rs. 3,060 |
| Islamabad | Rs. 278,500 | Rs. 238,900 | Rs. 3,040 |
| Peshawar | Rs. 278,700 | Rs. 239,100 | Rs. 3,070 |
| Quetta | Rs. 278,400 | Rs. 238,800 | Rs. 3,030 |
Please note: These rates are approximate and can vary slightly depending on the specific jeweler or gold dealer. It’s always advisable to contact local vendors for the most accurate and up-to-date pricing.
Factors Influencing Gold Rates in Pakistan Today 18 October 2024
Several factors contribute to the fluctuation of gold rates in Pakistan:
- International Gold Prices: Gold is a globally traded commodity, and its price in Pakistan is closely linked to international market trends. Factors like global economic conditions, supply and demand dynamics, and investor sentiment can all impact the international gold price, which in turn influences local rates. Â
- USD to PKR Exchange Rate: The Pakistani Rupee (PKR) is subject to fluctuations against the US Dollar (USD). A weaker PKR against the USD generally leads to higher gold prices in Pakistan. Â
- Local Demand and Supply: Demand for gold jewelry and investment products within Pakistan can influence local prices. Festive seasons, weddings, and other cultural events often see increased demand, which can drive prices upward. Â
- Government Policies and Taxes: Import duties, taxes, and regulations related to gold trading can also affect gold prices in Pakistan.
- Economic and Political Conditions: Domestic economic conditions, political stability, and investor confidence can also play a role in determining gold prices. Â
Staying Updated on Gold Rates
To stay informed about the latest gold rates in Pakistan, you can utilize several resources:
- Local Jewelers: Contacting local jewelers or gold dealers is the most reliable way to get accurate and up-to-date pricing information.
- Financial News Websites: Reputable financial news websites and online platforms often provide live gold prices and market analysis. Â
- Dedicated Gold Price Tracking Websites: Several websites specialize in tracking gold prices globally, including specific data for Pakistan.
- Sarafa Association Websites: Many cities have Sarafa (gold and jewelry market) associations that publish daily gold rates on their websites. Â
Conclusion
Gold continues to be a valuable asset in Pakistan, and staying informed about its price fluctuations is crucial for investors and consumers alike. By understanding the factors influencing gold rates and utilizing available resources to track current prices, you can make informed decisions regarding gold purchases or investments.
