Latest Gold Updates
Today, the latest gold price in Pakistan is PKR 242,500 for 1 tola (12 grams) of gold. 10 grams) will be available for PKR 207,970. Here at Goldratepk.com, you can find the best rates for gold in basic units of 1 tola/12 grams, 10 grams, and 1 gram. Goldratepk.com also provides gold rates in international units of one ounce from the global market and local Pakistani rates derived from the bullion market.
آج، پاکستان میں سونے کی تازہ ترین قیمت 1 تولہ (12 گرام) سونے کی 242,500 ہے۔10 گرام PKR 207,970 میں دستیاب ہوگا۔یہاں Goldratepk.com پر، آپ 1 تولہ (12 گرام)، 10 گرام، اور 1 گرام کی بنیادی اکائیوں میں سونے کے لیے بہترین نرخ تلاش کر سکتے ہیں۔ Goldratepk.com عالمی مارکیٹ سے ایک اونس کے بین الاقوامی یونٹس میں سونے کے نرخ اور بلین مارکیٹ سے مقامی پاکستانی نرخ بھی فراہم کرتا ہے۔
Fluctuation of International Gold rates in the last 7 Days
In recent weeks, international gold prices have fluctuated due to various market factors, such as the release of economic data and geopolitical events. The price of gold is $100 per troy ounce.
As of the latest data:
- The price began around $1,920 per ounce.
- The highest point reached was approximately $1,970 per ounce.
- The lowest point touched was around $1,890 per ounce
Fluctuation of Pakistani Gold rates In the last 7 Days
Here are the 24-carat gold prices from the last seven days:
- June 26, 2024: 242,500 PKR
- June 25, 2024: 242,100 PKR
- June 24, 2024: 241,600 PKR
- June 23, 2024: 241,600 PKR
- June 22, 2024: 242,000 PKR
- June 21, 2024: 242,000 PKR
- June 20, 2024: 241,100 PKR
The data shows that it reached PKR 242,350 on June 20, 2024, but decreased to PKR 241,200 on June 19, 2024. These fluctuations are common in the gold market and can be attributed to global economic conditions, the behavior of investors, and local factors.
Fluctuation of gold rate in different cities of Pakistan
During the last week, minor volatility was observed in gold prices in different cities in Pakistan. Gold rates per tola for 24K gold have generally increased, reflecting trends in the international market. Each city’s rates are closely aligned, with slight variations due to local market conditions and demand.
Here is the fluctuation table of gold rates in different cities of Pakistan over the last week (measured per tola of 24K gold):
| Date | Karachi (PKR) | Lahore (PKR) | Islamabad (PKR) | Peshawar (PKR) | Quetta (PKR) | Faisalabad (PKR) |
| June 20, 2024 | 241,100 | 241,000 | 241,200 | 241,000 | 241,000 | 241,100 |
| June 21, 2024 | 241,100 | 241,000 | 241,200 | 241,000 | 241,000 | 241,100 |
| June 22, 2024 | 242,100 | 242,000 | 242,200 | 242,000 | 242,000 | 242,100 |
| June 23, 2024 | 241,600 | 241,500 | 241,600 | 241,700 | 241,500 | 241,500 |
| June 24, 2024 | 241,600 | 242,500 | 241,600 | 241,700 | 241,500 | 241,500 |
| June 25, 2024 | 242,100 | 241,200 | 242,100 | 242,100 | 242,100 | 242,100 |
| June 26, 2024 | 242,100 | 242,200 | 242,100 | 242,100 | 242,100 | 242,100 |
Conclusion:
Gold prices have fluctuated worldwide in the past week due to various market conditions, including economic data and geopolitical events. Prices range from $1,890 to $1,970 per ounce. Gold prices in Pakistan have increased in the last 7 days. The prices in Karachi, Lahore, Islamabad, Peshawar, Quetta, and Faisalabad (24-carat gold per dollar) were the same but showed minor changes due to local demand and market conditions.
FAQs
What happens when the price of gold rises?
Gold is an inflation hedge, and its value depends on the level of inflation. Generally, the price of gold increases when the cost of living increases. When inflation increases, the value of money decreases, so people save money in gold.
What will cause the price of gold to fall?
Conversely, when the supply of gold is high and the demand is low, the price will fall. In addition, other factors such as interest rates, inflation, currency value, geopolitical events, and economic conditions can affect the price of gold.
Does gold rise faster than inflation?
Over the past five years, gold has returned 8% per year in real terms and 12.5% before the recession. The S&P 500 rose 9.1% and 13.6% during that period, respectively. There is no competition compared to 10 years ago. Real gold yields rose 3.1% and 6.1%, respectively, and the S&P 500 rose 9.5% and 12.6%.
Why does the price of gold go down?
Gold is valued in US dollars in global markets. So, when the US dollar is strong against other currencies, gold is worth less in dollar terms. Conversely, when the US dollar weakens, the price of gold rises.