SJY NEWSDated : 13th July 2024
Gold Rate in Pakistan Per Tola as of 13th July
Introduction
The price of gold in Pakistan is a crucial indicator for investors, jewelers, and consumers. As of 13th July 2024, the gold rate per tola has increased by PKR 600 compared to the previous day. On 12th July 2024, the rate was PKR 248,200, but today it stands at PKR 248,800. This article provides a detailed analysis of the gold rate in Pakistan, including historical data, factors influencing gold prices, and a comprehensive FAQ section.
Gold Rate Comparison
| Date | Gold Rate Per Tola (PKR) |
|---|---|
| 12th July 2024 | 248,200 |
| 13th July 2024 | 248,800 |
The above table highlights the increase in the gold rate by PKR 600 from 12th to 13th July 2024.
Factors Influencing Gold Prices in Pakistan
Global Market Trends
The global market trends play a significant role in determining the gold prices in Pakistan. Factors such as international demand and supply, geopolitical events, and economic policies of major economies influence gold rates.
Currency Exchange Rates
Gold prices in Pakistan are also affected by the exchange rate of the Pakistani Rupee (PKR) against the US Dollar (USD). A weaker PKR generally leads to higher gold prices, as gold is traded internationally in USD.
Inflation and Interest Rates
High inflation rates and low-interest rates often drive investors towards gold as a safe-haven asset, leading to an increase in demand and consequently higher prices.
Domestic Demand
The demand for gold within Pakistan, particularly during wedding seasons and festive periods, can cause fluctuations in the gold rate. High demand typically results in higher prices.
Historical Gold Rates in Pakistan
Understanding historical trends can provide valuable insights into future price movements. Here’s a look at the gold rates over the past week:
| Date | Gold Rate Per Tola (PKR) |
|---|---|
| 7th July 2024 | 245,000 |
| 8th July 2024 | 245,500 |
| 9th July 2024 | 246,000 |
| 10th July 2024 | 247,000 |
| 11th July 2024 | 247,500 |
| 12th July 2024 | 248,200 |
| 13th July 2024 | 248,800 |
Impact of Gold Rate Increase on Different Sectors
Jewelry Industry
The increase in gold prices directly impacts the jewelry industry, as higher prices lead to increased costs for manufacturing and reduced consumer purchasing power.
Investors
For investors, the rise in gold prices can be a positive indicator, signaling the potential for higher returns on gold investments.
Consumers
Consumers planning to purchase gold, particularly for weddings or other significant events, may face higher expenses due to the increased rates.
FAQs
Why did the gold rate increase on 13th July 2024?
The gold rate increased due to a combination of factors, including changes in global market trends, currency exchange rates, and domestic demand.
How often do gold rates change?
Gold rates can change daily based on market conditions, including international gold prices, currency exchange rates, and local demand.
Where can I check the current gold rate in Pakistan?
You can check the current gold rate in Pakistan on financial news websites, local gold market websites, and through financial news channels.
Is gold a good investment?
Gold is often considered a good investment as it can provide a hedge against inflation and currency fluctuations. However, like all investments, it carries risks and should be part of a diversified portfolio.
What is the difference between tola and gram in gold measurement?
One tola is approximately equal to 11.66 grams. Gold is often measured in tolas in South Asia, while grams and ounces are more commonly used internationally.
Conclusion
The gold rate in Pakistan as of 13th July 2024 is PKR 248,800 per tola, reflecting an increase of PKR 600 from the previous day. Various factors, including global market trends, currency exchange rates, and domestic demand, influence these rates. Whether you are an investor, jeweler, or consumer, staying informed about gold prices is essential for making sound financial decisions.
Source : Pakistan Stock Exchange Limited
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