Gold prices in Pakistan have surged to new highs today, with 24K gold now priced at ₨ 461,300 per tola, continuing its upward momentum. The 22K gold rate is also strong at ₨ 422,858.33 per tola, while 21K gold is quoted at ₨ 403,637.5 per tola.
| Purity | Per Tola (PKR) | Per 10 Grams (PKR) | Per Gram (PKR) | Per Ounce (PKR) |
|---|---|---|---|---|
| 24K | ₨ 461,300 | ₨ 395,500 | ₨ 39,550 | ₨ 1,120,959 |
| 22K | ₨ 422,858.33 | ₨ 362,541.67 | ₨ 36,254.17 | ₨ 1,027,545.75 |
| 21K | ₨ 403,637.5 | ₨ 346,062.5 | ₨ 34,606.25 | ₨ 980,839.13 |
| 18K | ₨ 345,975 | ₨ 296,625 | ₨ 29,662.5 | ₨ 840,719.25 |
🌍 Global Market Factors Driving Gold’s Rally
- Global Inflation: Inflation remains a key factor propelling the demand for gold. As prices for goods and services continue to rise across the globe, gold is increasingly seen as a safe-haven investment.
- Geopolitical Tensions: Global tensions, particularly in Eastern Europe and Asia, are contributing to the surge in gold prices. Investors often flock to gold during periods of political instability, seeking security in the precious metal.
- U.S. Dollar Weakness: The weakening of the U.S. dollar continues to support the rise in gold prices. As the U.S. dollar loses value, gold becomes a more attractive investment for global markets.
🇵🇰 Local Market Conditions
In Pakistan, the depreciation of the rupee against the dollar has significantly increased the cost of gold. The higher price of gold is also being driven by seasonal demand for jewelry, especially during the wedding season. 22K gold remains a favorite for wedding jewelry, adding to the demand for gold in local markets.
As gold becomes more expensive, it is increasingly seen as an investment asset, and buyers are turning to it as a hedge against inflation. The surge in demand is also impacting premiums in local markets, which may result in slightly higher final prices.
Technical Outlook
- Support Level: ₨ 450,000–₨ 455,000 per tola for 24K
- Resistance Level: ₨ 465,000–₨ 470,000 per tola for 24K
Gold’s next major resistance lies near ₨ 465,000, and if the trend continues, we may see ₨ 470,000 in the coming days.
Short-Term Forecast
Gold prices are likely to remain within ₨ 450,000 to ₨ 470,000 per tola for the near future, depending on the stability of the rupee and global economic indicators. A break above ₨ 470,000 could signal further bullish movement.
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