Today Gold Rate in Karachi | Gold rate Karachi today

Gold Rate in Karachi

Introduction

In this blog, we will delve into the gold rate in Karachi, Pakistan, as of  May, 2024, and explore the factors influencing these rates. Gold, a precious metal that has been valued by civilizations for thousands of years, continues to hold significance in today’s global economy. Its value is determined by various factors, including supply and demand, market conditions, and currency values.

Gold Rate in Karachi Today ( May, 2024)

As per Karachi Jewelers Association  May, 2024, today gold rate in Karachi for 24K is Rs.189,130 per 10 Gram & Rs. 220600 tola. 10 gram 22K gold price is Rs.173,369.

Here is a detailed breakdown of the rates:

Gold Weight24K Gold22K Gold21K Gold18K Gold
Per Tola Gold 220600202,216193,025165,450
Per 10 Gram Gold189,130173,369165,488141,847
Per 1 Gram Gold18,91317,33616,54814,184
Per Ounce 536,058491,386469,050402,043

Factors Influencing Gold Rates

The gold rates in Karachi fluctuates on a regular basis due to various factors. When inflation rises, currencies (particularly the PKR) weaken against the USD, and gold prices often climb. As a result, gold volatility has a far more complicated relationship with price than the stock market. There are times when both price and volatility rise at the same time.

As per the current scenario, the Gold rate today in Karachi has fallen to some rupees after the IMF aid was signed. The price of gold is aggregated in the London Bullion Market and occasionally by the IMF, and they had sole authority to set gold standards and prices.

Aside from that, the price of gold is not fixed and fluctuates from time to time due to a variety of variables. Because Pakistani Rupees are typically considered a cheap currency in comparison to other foreign currencies, the gold rate in Karachi is always higher.

Gold Rate Regulation

Gold rate today in Karachi ARY Sarafa Bazar regulates the gold price in the country. Being the trading hub of Pakistan, Karachi has control over many important financing factors. It is the capital of Pakistan. Karachi, which is located on the Arabian Sea, acts as a transportation hub and houses Pakistan’s two main seaports, the Port of Karachi and Port Bin Qasim, as well as the country’s busiest airport. Along with all this importance, it is a key distributor of Gold Rate in Pakistan.

Conclusion

Investing in gold consider as safe haven in times of economic uncertainty. However, it’s crucial to stay updated with the latest gold rates before making any investment decisions. The current gold rate today in Karachi is Rs. 218,200 for 24 karat per tola as per Karachi gold market, updated on 16 April, 2024.

The 22 carat gold rate in Karachi is currently trading at PKR 171,481 per 10 gram. The price of gold tola in Karachi today is RS 200,017 for 22K. Gold price in Karachi fluctuates frequently as per the international market. Therefore, it’s recommended to check the latest gold rates regularly if you’re planning to invest in gold.

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