Gold prices in Pakistan reached record levels on Wednesday, December 11, 2024. According to the Pakistan Sarafa Market, the price for 24-karat gold stands at Rs. 284,200 per tola. The rate for 10 grams of 24-karat gold is Rs. 243,660, while the price per gram is Rs. 24,366.
These rates reflect increasing demand for gold in the local market. Fluctuations in the international gold market and the weakening Pakistani rupee have contributed to this surge.
Gold Rates by Karat
The prices for different karats of gold are as follows:
- 24-karat gold: Rs. 24,374 per gram
- 22-karat gold: Rs. 22,341 per gram
- 21-karat gold: Rs. 21,327 per gram
These rates apply to major cities, including Karachi, Lahore, and Islamabad. However, slight variations may occur due to local market conditions.
Silver Prices Stable
Silver prices remain relatively steady compared to gold. The current price for 24-karat silver is Rs. 3,356 per tola. One gram of 24-karat silver costs Rs. 288. Lower purity silver is also available at reduced prices:
- 22-karat silver: Rs. 264 per gram
- 21-karat silver: Rs. 252 per gram
Despite stability in silver rates, its market activity remains lower than gold. Silver continues to be an affordable choice for consumers.
Factors Behind the Price Surge
The rising gold rates are attributed to multiple factors. These include global economic uncertainty and inflationary pressures. The weakening rupee further amplifies the impact of international gold prices on local markets.
Additionally, the wedding season in Pakistan has fueled demand for gold jewelry. This seasonal demand often drives prices higher during these months.
Consumers Turn to Alternatives
As gold prices climb, consumers are seeking alternatives. Silver remains a popular choice for buyers with a tighter budget. Many are also reducing the weight of gold in jewelry designs to manage costs.
Online Tools for Price Calculations
Consumers can now use online tools to calculate gold and silver prices. The Gold and Silver Calculator provides detailed rates for different weights and purities. This feature helps buyers and investors make informed decisions.
Historical Trends
Historical gold and silver rates indicate a steady upward trend. Analysts predict that prices may continue to rise if economic conditions remain uncertain. Investors are advised to monitor market trends closely.
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