Gold prices in Pakistan remained stable on Friday, December 20, 2024, according to the latest data from FXStreet. Despite fluctuations in the global gold market, Pakistan’s gold rates showed only minor changes, maintaining relative stability.
Current Gold Prices in Pakistan
The latest gold prices in Pakistan are as follows:
| Unit | Gold Price (PKR) |
|---|---|
| 1 Gram | PKR 23,338.42 |
| 10 Grams | PKR 233,384.20 |
| 1 Tola | PKR 272,214.80 |
| 1 Troy Ounce | PKR 725,906.60 |
These rates are slightly higher compared to the previous day’s prices:
- 1 Gram: Previously PKR 23,325.85
- 1 Tola: Previously PKR 272,068.10
The small increase reflects the ongoing volatility in the international gold market, which often impacts local prices in Pakistan.
How Gold Prices Are Calculated in Pakistan
The price of gold in Pakistan is influenced by the following key factors:
- Global Gold Prices: The local market adapts the USD/PKR exchange rate to global gold prices. Any fluctuations in the international market impact Pakistan’s rates.
- Exchange Rate (USD to PKR): Changes in the USD/PKR exchange rate play a crucial role in determining local gold prices.
- Local Market Demand and Supply: Domestic factors, such as jewelry demand, also affect prices, especially during the wedding season.
FXStreet calculates daily gold prices in Pakistan by adapting international rates to local currency values and unit measures. Prices are published daily and are for reference purposes only, as local market prices may vary slightly.
Global Gold Market Overview
The global gold market often experiences fluctuations due to factors such as:
- Geopolitical Uncertainty: Tensions in international relations often push investors toward safe-haven assets like gold.
- Interest Rates and Inflation: Rising inflation and changes in interest rates influence the price of gold globally. When inflation rises, demand for gold typically increases.
- US Dollar Strength: A stronger US dollar makes gold more expensive for holders of other currencies, thereby reducing global demand.
On December 20, 2024, international gold prices remained steady, reflecting limited movements in the global market. However, factors such as Federal Reserve decisions and geopolitical developments may affect the market outlook.
Why Gold Prices Are Important in Pakistan
Gold holds a unique position in Pakistan’s economy and culture. It is seen as a safe investment option, a key element in wedding jewelry, and a hedge against inflation. Many Pakistanis prefer to invest in physical gold as a store of value, especially during economic uncertainty.
- Stable Prices: Gold prices in Pakistan remained steady at PKR 23,338.42 per gram and PKR 272,214.80 per tola.
- Global Influence: Prices are driven by global market movements and the USD/PKR exchange rate.
- Investor Sentiment: Gold remains a preferred investment choice during periods of economic uncertainty.
These gold rates are updated daily based on market conditions and can vary slightly across local markets. Traders, jewelers, and investors keep a close watch on these prices to make timely decisions about buying or selling gold.
For daily updates on Pakistan’s gold prices, stay connected with trusted financial news platforms like FXStreet or local financial news providers
