SJY NEWSDated: 11th July, 2024.
Gold Rate in Pakistan: An Overview
The gold rate in Pakistan has seen a slight increase on July 11th, 2024, compared to the previous day. On July 10th, 2024, the gold rate per tola was PKR 245,950. Today, it stands at PKR 246,000.
Gold Rate Comparison: 10th July vs. 11th July 2024
| Date | Gold Rate per Tola (PKR) |
|---|---|
| 10th July | 245,950 |
| 11th July | 246,000 |
Factors Influencing Gold Prices
- Global Market Trends: Gold prices are heavily influenced by international market trends. Fluctuations in global demand and supply, economic stability, and geopolitical factors can lead to changes in gold prices.
- Currency Exchange Rates: The value of the Pakistani Rupee against the US Dollar and other major currencies plays a crucial role in determining gold prices in Pakistan. A weaker Rupee often leads to higher gold prices.
- Inflation: As a hedge against inflation, gold prices tend to rise when inflation rates are high. Investors often turn to gold to preserve their wealth during times of economic uncertainty.
- Interest Rates: Lower interest rates can drive up gold prices as the opportunity cost of holding gold decreases. Conversely, higher interest rates may lead to lower gold prices.
- Government Policies: Policies related to gold import and export, as well as taxation, can impact the local gold market.
FAQs About Gold Investment in Pakistan
Q1: Why do gold prices fluctuate daily?
A1: Gold prices fluctuate daily due to changes in global market conditions, currency exchange rates, demand and supply dynamics, and economic indicators.
Q2: Is investing in gold a good option in Pakistan?
A2: Yes, investing in gold is considered a good option in Pakistan, especially during times of economic instability. Gold is seen as a safe-haven asset that preserves value over the long term.
Q3: How can I invest in gold in Pakistan?
A3: You can invest in gold in Pakistan by purchasing physical gold (jewelry, coins, bars), investing in gold ETFs (Exchange Traded Funds), or trading in gold futures and options.
Q4: What is the difference between a tola and a gram in gold measurement?
A4: A tola is a traditional unit of mass used in South Asia, and it is equivalent to 11.66 grams. Gold is commonly measured in tolas in Pakistan.
Q5: How does the international gold rate affect local prices in Pakistan?
A5: The international gold rate significantly affects local prices in Pakistan. Changes in global gold prices, driven by factors such as geopolitical tensions, economic data, and market sentiment, are reflected in the local market.
Q6: Can I buy gold online in Pakistan?
A6: Yes, you can buy gold online in Pakistan through various e-commerce platforms and websites that offer gold coins, bars, and jewelry. Ensure to purchase from reputable sellers to avoid fraud.
Sources : Pakistan Stock Exchange Limited
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