Gold Rate in Pakistan Today

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Gold is one of the most valuable metals and its prices can not be ignored. Gold is used for many purposes such as making Jewelry, and manufacturing different kinds of machines.

Lahore 42 News provides the gold rate in Pakistan’s local market. The gold rates from major cities of Pakistan are listed below.

24K gold is the most expensive, and purest Gold. It is 99.99% pure gold. However, this type of gold is brittle and is not used to make jewelry. 24K Gold is used in different appliances and machines.

22K Gold is 91.67% pure gold. It is used in jewelry that is worn on special occasions such as necklaces and daily use may damage the jewelry items.

22K gold is 75% pure rest are metals like silver, copper, or zinc. It is used in jewelry that can be used on daily basis such as watches and bracelets.

According to an estimate, Pakistan has more than 1600 million tonnes of gold reserves. Large amounts of gold are extracted every month. Therefore, the importance of gold in the economy of Pakistan cannot be denied. Gold also has a great social value in Pakistan, as gold is used in Jewelry. Gold is also a part of inheritance just like property. The sale of gold usually increases during the wedding season. However, it is a trend in Pakistan the brides get the gold jewelry of their families before the wedding as a gift. Due to these factors, the conventional rule (Demand and Supply) of the economy does not apply to the gold rate in Pakistan.

The Central or State Bank of Pakistan controls the gold assets and reserves of Pakistan.