AGL 42.10 Increased By ▲ 3.56 (9.24%)
AIRLINK 129.70 Increased By ▲ 0.20 (0.15%)
BOP 5.97 Increased By ▲ 0.36 (6.42%)
CNERGY 4.05 Increased By ▲ 0.19 (4.92%)
DCL 8.63 Decreased By ▼ -0.10 (-1.15%)
DFML 40.81 Decreased By ▼ -0.95 (-2.27%)
DGKC 88.50 Increased By ▲ 0.20 (0.23%)
FCCL 35.02 Increased By ▲ 0.02 (0.06%)
FFBL 66.31 Decreased By ▼ -1.04 (-1.54%)
FFL 10.70 Increased By ▲ 0.09 (0.85%)
HUBC 109.60 Increased By ▲ 0.84 (0.77%)
HUMNL 14.90 Increased By ▲ 0.24 (1.64%)
KEL 4.75 No Change ▼ 0.00 (0%)
KOSM 7.31 Increased By ▲ 0.36 (5.18%)
MLCF 42.86 Increased By ▲ 1.21 (2.91%)
NBP 61.50 Increased By ▲ 1.90 (3.19%)
OGDC 181.35 Decreased By ▼ -1.65 (-0.9%)
PAEL 25.95 Decreased By ▼ -0.30 (-1.14%)
PIBTL 6.07 Increased By ▲ 0.10 (1.68%)
PPL 146.74 Increased By ▲ 0.04 (0.03%)
PRL 23.92 Increased By ▲ 0.31 (1.31%)
PTC 16.40 Decreased By ▼ -0.16 (-0.97%)
SEARL 71.17 Increased By ▲ 2.87 (4.2%)
TELE 7.25 Increased By ▲ 0.02 (0.28%)
TOMCL 36.68 Increased By ▲ 0.73 (2.03%)
TPLP 8.00 Increased By ▲ 0.15 (1.91%)
TREET 15.22 Increased By ▲ 1.02 (7.18%)
TRG 50.83 Increased By ▲ 0.38 (0.75%)
UNITY 27.40 Increased By ▲ 0.65 (2.43%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,863 Increased By 57.1 (0.58%)
BR30 29,891 Increased By 212.8 (0.72%)
KSE100 92,679 Increased By 374.4 (0.41%)
KSE30 28,895 Increased By 54.7 (0.19%)
Gold Prices

Gold, silver rates on 5-November-2024

Published September 5, 2023 Updated November 5, 2024

Gold rate in Pakistan today on November 5, 2024 is Rs283,200 per tola for 24 carat of the precious metal, while the price for 10 gram gold is Rs242,798 in the local bullion market.

On Tuesday, the price of 1 tola gold decreased by Rs500 and 10 gram gold declined by Rs429.

5-November-24 Gold Silver
per Tola Rs283,200 (⬇ Rs500) Rs3,430
per 10 grams Rs242,798 (⬇ Rs429) Rs2,941

These are live gold prices in Pakistan, including Karachi, Lahore, Islamabad, Rawalpindi, Quetta, Multan, and others. However, a change of a few hundred rupees may be observed.

Internationally, the rate of the yellow metal decreased by $5 to $2,737 per ounce (with a premium of $20 in Pakistani market).

Silver 24kt rate in Pakistan on Tuesday is Rs3,430 per tola. The price of 10 gram silver is Rs2,941.

Gold, silver rates per tola in last 10 sessions:

Dates 24K Gold 24K Silver
4-Nov-24 Rs283,700 Rs3,430
2-Nov-24 Rs283,000 Rs3,430
1-Nov-24 Rs284,700 Rs3,430
31-Oct-24 Rs287,200 Rs3,450
30-Oct-24 Rs287,900 Rs3,350
29-Oct-24 Rs285,000 Rs3,350
28-Oct-24 Rs283,400 Rs3,350
26-Oct-24 Rs284,100 Rs3,350
25-Oct-24 Rs282,300 Rs3,350
24-Oct-24 Rs283,300 Rs3,350

The rates of gold in Pakistan closely follow trajectory of the US dollar and international rates of the commodity as the country remains a net importer of the precious metal.

When the rupee is under pressure, investors take refuge in this safe-haven metal. Other than that, the precious metal is also widely used in making of jewellery.

Gold and silver prices are fixed by respective Sarafa associations in their city.

The precious yellow metal is a store of value across the world, and recognised by cultures as a symbol of wealth.

For thousands of years, gold and silver have been seen as valuable commodities, as the two metals have been widely used for coins for centuries.

What determines the rate of gold?

There happen to be a number of factors that affect the price of gold on daily basis.

Its rates are moved by a combination of various elements such as demand and supply, value of rupee against the US dollar, international prices, interest rates, investor behavior, etc.

Some also consider gold as an inflation hedge, and the precious metal also garners support in case of economic uncertainty in a country like Pakistan. It is a worldwide commodity just like oil.

In Pakistan, it’s not easy to forecast future gold rates as the bullion market remains volatile for multiple reasons.

Since last year, the prices of the yellow metal have seen fluctuation on rupee’s devaluation and economic and political uncertainty.

Demand for the precious metal increases when investors rush to buy it, which affects its price in the market.

Other than that, jewellery can also be considered one of the drivers of gold prices, but a weaker one, as most people buy jewellery to keep that for years.


Also read:

Comments

Comments are closed.

Pirzada Oct 12, 2023 12:15pm
I need writingjob
thumb_up Recommended (0)
Ali Jan Nov 01, 2023 11:00pm
Yt HQ HQ he jut Ku in3 HB see
thumb_up Recommended (0)