The gold rate in Pakistan today, on June 29, 2024, remains steady at Rs241,700 per tola for 24-carat gold, with the price for 10 grams of the precious metal sitting at Rs207,219 in the local bullion market. The price of both 1 tola gold and 10-gram gold has not changed since Saturday.
These prices are reflective of the current rates in major cities such as Karachi, Lahore, Islamabad, Rawalpindi, Quetta, Multan, and others, although slight variations may be observed. Internationally, the rate of gold stands at $2,326 per ounce with a premium of $20 in the Pakistani market.
Silver 24kt rate in Pakistan is Rs2,850 per tola, with the price of 10 grams of silver at Rs2,444. The rates of these precious metals have remained relatively stable over the past several sessions.
Factors such as the value of the rupee against the US dollar, international prices, interest rates, investor behavior, and economic uncertainty play a role in determining the price of gold on a daily basis. Gold is widely considered a safe-haven asset, especially during times of economic turmoil, and is commonly used in jewelry making.
The demand for gold tends to increase during times of uncertainty, leading to fluctuations in its price. In Pakistan, the bullion market remains volatile due to various factors, making it difficult to predict future gold rates accurately. Despite this volatility, gold continues to be a valued commodity with a rich historical significance as a symbol of wealth and store of value.
