Gold Rate in Pakistan has become a big issue nowadays. Several factors affect the gold price in Pakistan. Read the complete article to learn more.
Currency Exchange is one of the most important factors which affect the gold rate in Pakistan. The appreciation or depreciation of PKR also affects the price of gold in the national currency.
In most countries, central banks control the reserves of gold. For Example, the State Bank of Pakistan controls gold reserves in Pakistan. If the state bank changes its policies, it affects the gold rate in Pakistan.
The policies of governments of developed and developing nations are also an important factor for the fluctuations in the price of gold. These policies affect the prices of Gold international.
Investment and Demand
It’s an important principle of economics; a good is greater in number than the demand, the prices fall. However, when a good has greater demand than the available supply, the prices increase. Therefore, inflation and gold prices are inversely proportional.
Gold is considered a safe investment option. However, the changes in investment trends have led to the fluctuation of gold prices on a daily basis.
Where can you find these prices?
You can find the best websites that provide good information about the gold latest rates today in whole Pakistan. However, the information provided might not be 100% accurate, and the prices might vary from market to market.
Lahore 42 News
Lahore 42 News tells the price of gold in Pakistan on a daily basis. There is a real-time and historical price widget. The page is in Urdu, but your browser can translate it into English. The price of 24K gold (Tola), 24K (10G), and 22K (10G) are listed on the website.
You can visit Urdu Point and learn about the prices daily. It also provides gold prices of 24K (Tola), 24K (10G), and 22K (10G).
Daily Times also provides gold prices on a daily basis. It provides the gold prices from 24K gold to 18K gold. However, no widget is real-time or historical graph widget is provided. It provides the gold prices of the whole of Pakistan in one table. The prices are not provided, according to the names of specific cities.
Karachi Saraf & Jeweler’s Group daily updates the gold & silver prices on a single page. It provides the gold prices from 24K to 22K, and international prices are also provided. The gold prices are provided according to specific cities. However, the color scheme of the website makes it difficult to read the provided information. Sometimes, it updates its prices too late.
Hamari Web also provides information regarding the price of gold, from 24K to 22K gold. It also provides the gold prices of the previous 10 days. The international prices are also provided, as its gold price source is Karachi Saraf.
What are the Different Qualities of Gold?
24k gold is 99.99% pure gold. It is the purest form of gold available in the market. Because of its purity, it has a bright yellow color. It is the most expensive form of gold and is not used to make jewelry. However, it is used in electronic devices and machinery.
22K gold is about 91% pure; the rest is metals like silver. It is cheaper than 24K gold and can last longer; therefore, it is mostly used in jewelry. It is the ideal gold for jewelry as it can withstand daily use.
18K gold is 75% pure; the rest are metals like copper and silver. This type of gold is cheaper than both 24K gold and 22K gold. It is used to make rings, bracelets, and watches that are rigorously used.