Gold rate in Pakistan keeps fluctuating. Therefore, it is an important trade item.
Why Gold Rate is Fluctuating?
There are many factors which affect the gold prices in Pakistan. Some of these factors are listed below:
- Government and State BankPolicies
- Appreciation and Depreciation of local currency
- Trading/Investment trends
- Availability & Demand
Government and State Bank Policies:
Government and State Bank policies are important factors which affect the gold price. In most of the countries, State Bank has control over gold reserve. Any change in their policies affects the gold price.
Appreciation and Depreciation of Local Currency
Appreciation and Depreciation of Local Currency, For Example PKR changes the gold price in local currency.
Trading and Investment Trends also have a direct affect on Gold Prices in Pakistan.As the trends change the price if gold also changes.
Availability & Demand
If the demand if gold is greater than the supply, the prices increase. If the demand of gold is lower than the supply, the prices reduce.
Do Gold Prices Vary From CityToCity?
Gold prices may vary from city to city. They might also vary from market to market in Pakistan. However, there is no big difference in the price of gold.
Qualities of Gold
24K gold is the purest and moat expensive gold available in markets of Pakistan. It is comparatively brittle, as it is comprised by 99.99% gold. It is mostly used in machinery. This type of gold is not commonly used in jewelry.
22K gold is used to make jewelry, which is only worn on special occasions. It is cheaper than 24K gold. It is not used to necklaces with gemstones, as it can not hold these stones. This type of gold is 92% gold. Rests are metals like silver, and zinc.
18K Gold is 75% gold and 25% other metals. It is harder and cheaper than both 22K and 24K gold. It is used in jewelry that can be worn on daily basis such as a watch or bracelet.
Where to Find the Price Of Gold?
Lahore 42 News
Lahore 42 News is a news publishing website that also provides the gold price of gold. A real-time and historical gold price widget is also displayed. It provides the price of 24K and 22K gold in major cities.
Urdu Point also provides the price of 22K and 24K gold price in major cities using a table. However, there is no graphical widget on gold prices.
Gold.pk provides the gold price of 24K gold prices in major cities. It also provides the gold price of 22K gold but a generic number for whole country is provided. Though, it provides the historical gold price of Karachi in a table.
Forex.pk is linked with Gold.pk. It provides the Bullion gold prices. It does not provide gold prices of local markets. However, gold rate is updated every hour.
Humari Web is a channel streaming service website which also has a feature for gold rate update.They have a Simple page for Gold Updates without any graphs or pictorial translation.
Daily Times is a classic old News website based on its newspaper ePaper Daily Times. It has a gold rate section which is updated on daily basis.
Where can you buy Gold?
There are different Jewelers and Banks giving you an opportunity to Buy Gold.
Gold is bought for two main purposes
- To wear as jewelry and as a part of culture
- To invest for future
Banks allow people to buy and save gold getting a profit when you sale it.
Jewelry is bought as a culture or as a future saving.