Islamabad, Jan 22: The Gold price in Pakistan stood at 24,538.62 (PKR) per gram, up compared with the PKR 24,451.70 it cost on Tuesday.
The Gold price in Pakistan increased to PKR 286,213.70 per tola from PKR 285,199.80 per tola a day earlier.
| Unit measure | Gold Price in PKR |
|---|---|
| 1 Gram | 24,538.62 |
| 10 Grams | 245,379.10 |
| Tola | 286,213.70 |
| Troy Ounce | 763,237.10 |
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Gold prices per tola increases in Pakistan
FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council.
This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
