Gold Rate in Pakistan March 2023
The gold price in Pakistan has reached an all-time high amidst a deteriorating economic crisis and a depreciating rupee. According to financial analysts, the price of this precious metal has been rising as investors purchase it as a hedge against inflation and currency depreciation.
It is also vital to note that gold prices are soaring worldwide, with the Federal Reserve’s aggressive monetary policies being the principal cause of the stratospheric price increase.
Since the price of gold in Pakistan fluctuates frequently, we have included the most recent values as reported by the Karachi Sarafa Bazaar Association. Please note that gold prices are nearly identical across the nation, with very minor variances between cities.
Gold Rate in Pakistan 2023 Updated March 2023
Let’s examine the most recent gold prices in Pakistan.
|Gold Weight||24K Gold Rate||22K Gold Rate||21K Gold Rate||18K Gold Rate|
|Tola||PKR 195,530||PKR 179,235||PKR 171,089||PKR 146,648|
|10 Gram||PKR 167,635||PKR 153,665||PKR 146,681||PKR 125,727|
|1 Gram||PKR 16,764||PKR 15,367||PKR 14,668||PKR 12,573|
|1 Ounce||PKR 475,240||PKR 435,634||PKR 415,835||PKR 356,430|
Key Factors Influencing Gold Price in Pakistan
The fundamental reason for the rising gold price in Pakistan is inflation. Simply put, as the price of commodities rises and the purchasing power falls, individuals look for ways to preserve their assets from devaluation and, as a result, purchase more gold as a hedge.
Additionally, investing in real estate amid inflation could be lucrative.
As economic conditions deteriorate, gold prices likewise rise. Lack of GDP growth, increased government expenditure, lack of discretionary income, and an increasing unemployment rate can all affect the price of 1 tola of gold in Pakistan.
Political unrest is another element that influences gold prices in Pakistan. In uncertain times, investors may purchase significant quantities of gold to safeguard their investments. Regrettably, this behavior is observed worldwide.
Supply and Demand
This one is relatively simple. The amount of gold available on the market has a direct effect on its price. When supply is limited and demand is high, prices may increase. On the other hand, when demand is low and supply is plentiful, the shiny metal typically becomes more affordable.
Lastly, the price of gold on the world market has an immediate impact on the rates in each country. Obviously, currency exchange rates, the political landscape, interest rates, supply and demand, and other factors influence worldwide prices.
Stay tuned to Al Sadat Marketing for more information about current affairs in Pakistan
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