Gold Rate in Pakistan Dips Rs500 to Rs432,000 per Tola
By Gold Rates PakistanRates sourced from APGJSA
The gold rate in Pakistan slipped Rs500 to Rs432,000 per tola for 24K today, while international gold edged up to $4,169.23 an ounce as softer oil prices eased inflation worries.
The gold rate in Pakistan edged lower today, with 24K gold falling Rs500, or 0.12%, to Rs432,000 per tola. That compares with Rs432,500 on Saturday, the previous trading day. The small fall came even though international gold was slightly firmer, and it leaves the local rate at its lowest point of the past 30 trading days.
What Moved Gold
Internationally, gold edged higher on Monday as oil prices retreated from last week's highs, according to Reuters. Brent crude had settled on Friday at its highest level since May, and the pull-back eased some of the inflation worries that have been weighing on gold in recent weeks.
Attention is now on next week's Federal Reserve policy meeting, where the central bank is widely expected to keep interest rates unchanged. Traders still see a strong chance of a rate rise later in the year, which has kept gains modest. An analyst at UBS told Reuters that gold was holding up because demand for safe-haven assets remained firm.
Gold Rates in Pakistan by Purity
| Purity | Per tola | Per 10 grams |
|---|---|---|
| 24K | Rs432,000 | Rs370,377 |
| 22K | Rs396,000 | Rs339,512 |
| 21K | Rs378,000 | Rs324,080 |
| 18K | Rs324,000 | Rs277,782 |
The Week So Far
Compared with a week ago, when 24K gold stood at Rs435,000 per tola on 12 October, the rate is Rs3,000 lower. Over the past 30 trading days, the rate has ranged from a high of Rs454,700 on 19 September to a low of Rs432,000 on 13 October, a level it has now returned to.
International Gold Price
Spot gold was trading at $4,169.23 per troy ounce, up $10.85, or 0.26%, from the previous close of $4,158.38. The rise was modest, and prices have stayed in a fairly narrow range as markets wait for the Fed's decision.
For live prices through the day, see today's gold rate in Pakistan and the international gold rate. Rates are the Sarafa association's published rates; jewellers add making charges, and prices vary slightly between cities.