According to press reports, the price of gold in Pakistan increased on Tuesday.
The price of gold increased to 24,491.09 Pakistani rupees (PKR), which is compared to Monday’s price of PKR, which was 24,347.49.
The price of gold has increased by Rs 285,659.20 on the first day.
| Unit measure | Gold rate in PKR |
| 1 Gram | 24,491.09 |
| 10 Gram | 244,910.90 |
| Tola | 285,659.20 |
| Troy Ounce | 761,758.50 |
Press calculates the value of gold in Pakistan by customizing international values (USD/PKR) according to local currency and measurement units. At the time of publication, the prices are falling daily based on market prices. The keys are only for reference and are somewhat different from the rest.
Gold prices hit another record high during Thursday’s North American session, but halted its advance amid higher US Treasury bonds and a stronger US dollar. Tensions in the Middle East and uncertainty surrounding the United States presidential election increased flows into safe-haven assets over the past five trading days. At the time of writing, XAU/USD trades at $2,718, down slightly by 0.09%.
Conclusion
Due to global market trends and stable factors such as the exchange of gold and silver, the price of gold in Pakistan will reach a record high on October 22, 2024. In comparison to the price of gold mentioned above, the price of 1 gram is now at PKR 24,491.09 and the price of 1 tola is at PKR 285,659.20, which reflects the declining demand for safe wealth in the middle class amid the country’s genetic tension and indecision regarding the US presidential election. Unfortunately, on the global market, the price of gold declined slightly during the North American session, as high US treasury yields and the major dollar declined or were put under pressure.
FAQ’s
What is causing gold to rise?
Technological advances, especially in the areas of electronics and renewable energy, are helping to increase demand for gold. As these industries grow, demand for gold in technical applications may increase, putting pressure on its price. The limited nature of gold also plays a key role.
Is this a good time to buy gold?
The historical gold price average over the past 50 years shows that the best time of year to buy gold is at the beginning of each calendar year and again in the middle of summer, in early July. Prices tend to rise at the fastest rate after these periods. History does not repeat itself, but poetry does.
Does gold have an interest rate?
Since gold does not produce an annual yield, low interest rates mean that other investments do not produce any additional annual income, further enhancing gold’s appeal.