Pakistan’s Gold Rates
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In the old time, people have fought and died over the custody of gold. Actually, gold is associated with something very expensive. In Pakistan, it’s a dream of every man of owning gold in large quantity. Gold gives them financial stability and a sense of security. Gold is a word symbolizes something extremely pure, expensive and exquisite. It has been centuries that mining, circulation, and possession of gold taking place. The price of gold is determined in London Bullion Market and then further
implied in the world market and for most of the gold products they also set a standard for price determination. In the United States, Peru, South Africa, Canada, Russia, China and Australia, most famous gold commodities found where this gold is purchased and circulated in other markets.
For the future, gold is considered as the best investment. In Pakistan, women love to wear Gold jewelry and considered gold as good as cash. According to international Gold rates, in Pakistan, the Gold Rate is never fixed, it is fluctuating. From mostly Gulf countries, gold is imported in Pakistan. In Pakistan, Gold is categorized according to its quality and grade. The Gold price also depends on the current Dollar rate. From the investment point of view, gold is considered most valuable among all of the metals. Gold is not only used in jewelry making but also for the purpose of manufacturing electronic devices and for medicinal use. In Pakistan gold is kept as an investment by a common man which back him up in term of a financial setback. Gold is also in a form of bars and coins. People keep them save and use it in whatever design they want.
The purchase rate would be reasonable if gold supply in the worldwide market is large but if the supply of gold is limited obviously it would impact the prices. More and more traders or markets would try to get gold leading to high prices. We all know that the value of Pakistani Rupee is considerably very less than euro or dollar, pound sterling. In Pakistan, it not surprising that gold prices have always been outrageously high. The reason behind this high price is economic crises. The service and utility have become so overpriced that common people hardly manage their feed or find a reasonable shelter for them.
22K and 24K gold is sold in Pakistan, which is measured in 10 grams weight and as per tola. Design of gold jewelry also matters as it also has to make cost which is calculated according to the design of the product. In Pakistan, the total Gold rate is Rs. 67,650 per tola and Rs. 58,000 per 10 grams. All over Pakistan, the rates are normally same however Sarafa market of every city decides the current gold rate.
The current price of gold in Pakistan are 24k 10g is Rs. 58,000, 24k per Tola is Rs. 67,650 and 22k 10g is Rs. 53,166. The Gold Rates are the same in all major cities including Karachi, Lahore, Peshawar, and Islamabad.