Gold prices in Pakistan increased on Wednesday, with the price for 24-carat Gold reaching 19,524.82 Pakistani Rupees (PKR) per gram, up PKR 58.17 from the previous day.
The price for 24-carat Gold per tola also rose to PKR 227,733.70 from PKR 227,055.25.
| Unit measure | Gold Price in PKR |
|---|---|
| 1 Gram | 19,524.82 |
| 10 Grams | 195,248.23 |
| Tola | 227,733.70 |
| Troy Ounce | 607,290.33 |
FXStreet calculates Gold prices in Pakistan using international prices (XAU/USD) adapted to local currency and units of measurement. Daily updates are based on current market rates at the time of publication. Local rates may vary slightly from the referenced prices.
Global Market Movers: Gold price consolidates as traders await more cues about the Fed’s rate-cut path
- The Federal Reserve’s projection of a more accommodative monetary policy with potential rate cuts has supported the Gold price as a safe-haven asset.
- Geopolitical tensions, such as Russia’s actions in Ukraine and attacks in the Gulf of Aden by Iran-backed militants, have added to market uncertainties, boosting Gold’s appeal.
- Recent economic data in the US, including Durable Goods Orders and Consumer Confidence Index, have influenced the strength of the US Dollar and, subsequently, Gold prices.
- Investors are closely watching indicators like the US Personal Consumption and Expenditure Price Index for insights into the Federal Reserve’s future policy decisions.
(An automation tool was used in creating this post.)
Gold FAQs
Gold has historical significance as a store of value and safe-haven asset during turbulent times, making it a popular investment choice.
Central banks hold significant Gold reserves to bolster currency strength and solvency, with emerging economies increasing their holdings in recent years.
Gold’s price movement is often influenced by factors like the US Dollar, geopolitical tensions, and economic conditions, making it a versatile asset.
The interplay between the US Dollar and Gold prices, along with market uncertainties, continues to shape the precious metal’s value in global markets.
