Gold Rate In Pakistan 2020
In this article, you will learn about the history of the gold rate in Pakistan in 2020.
اس مضمون میں، آپ سال 2020 کی تاریخ کے بارے میں جانیں گے۔
The Gold Rate in Pakistan on 1st January 2020
On January 1st, 2020, the gold rate in Pakistan for 24k per ounce was 318,462, and the rate for 10 grams was 102,390. The Gold Rate in Pakistan on 31st January 2020 per Oz for 24k was 317,704, and the 10-gram gold rate was 102,140. Movements in the international market cause fluctuations in these gold prices. The global economy plays a vital role in determining gold prices. Economic uncertainty, geopolitical tensions, and fluctuations in crucial currencies cause gold prices to fluctuate.
یکم جنوری 2020 کو پاکستان میں سونے کا ریٹ 24 ہزار فی اونس 318,462 اور 10 گرام کا ریٹ 102,390 تھا۔ پاکستان میں 31 جنوری 2020 کو سونے کا ریٹ فی اوز 24کے لیے 317,704 تھا، اور 10 گرام سونے کا ریٹ 102,140 تھا۔ بین الاقوامی مارکیٹ میں نقل و حرکت سونے کی ان قیمتوں میں اتار چڑھاؤ کا سبب بنتی ہے۔ عالمی معیشت سونے کی قیمتوں کے تعین میں اہم کردار ادا کرتی ہے۔ اقتصادی غیر یقینی صورتحال، جغرافیائی سیاسی تناؤ، اور اہم کرنسیوں میں اتار چڑھاؤ سونے کی قیمتوں میں اتار چڑھاؤ کا سبب بنتے ہیں۔
| 2020 January | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 236,354 | 7,598 |
| End of Month | 245,482 | 7,892 |
The Gold rate in Pakistan on 1 Feb 2020
The Gold rate in Pakistan on 1 Feb 2020 was Rs. 317,816 per Oz and Rs.102,180 per 10 gm. These gold rates are as per Sarafa Jewelers Association and International Gold Market. The price of 1 tola of 24-karat gold in Pakistan is Rs.126,814. The gold rate in Pakistan fluctuates according to the international market and Multan Sarafa Bazar.
| 2020 Feb | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 245,513 | 7,983 |
| End of Month | 244,789 | 7,870 |
Gold Rate in March 2020
The March 01, 2020, gold price was Rs.344,987 per Ounce and Rs.110,920 per 10 grams. On March 30, 2020, the gold rate in Pakistan was Rs.11,355 per gram, the Rs.132,399 per tola. These prices are According to the Sarafa Jewelers Association and International Gold Market.
| 2020 March | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 244,765 | 7,869 |
| End of Month | 262,626 | 8,443 |
Gold rate in April 2020
The gold Rate in Pakistan on 1 April 2020 was Rs.113,770 per 10 grams, and the price of Gold was Rs.353,871 per Ounce in Pakistan. Gold Rate in Pakistan on 1 April 2020 was Rs.32,655 per Tola. It is important to remember that gold prices fluctuate throughout the day based on the international market. The gold Price in the country for a single tola of 24-karat is being traded at Rs 132,072 here on April 30, 2020. The price of gold increased based on factors such as Economic issues, Dollar value, and international Market.
| 2020 April | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 264,998 | 8,519 |
| End of Month | 270,850 | 8,708 |
Gold rate in May 2020
The gold rate in Pakistan on May 1, 2020, was Rs 129,705 per tola and Rs 111,240 per 10 grams. It is difficult to estimate the exact rate of gold as it changes daily due to some factors affecting its price. As of 31 May 2020, the Gold price of 24 carats in Pakistan was Rs 131,827.
2020 May | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 272,700 | 8,767 |
| End of Month | 283,286 | 9,107 |
Gold rate in June 2020
On June 01, 2020, the gold price of 24-carat gold in Pakistan was Rs.136,841. Similarly, according to the bullion market, the rate of 24-carat gold per Ounce has been recorded at Rs.365,045. It’s worth indicating that the price of gold in Pakistan keeps changing according to the international market, so the price of gold never stays the same. On June 30, 2020, the Gold price of 24-carat gold in Pakistan was Rs.118,540 per 10 grams.
| 2020 June | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 283,989 | 9,130 |
| End of Month | 299,343 | 9,624 |
Gold rate in July 2020
The gold rate in Pakistan per tola 01 July 2020 was Rs.138,742 for 24k gold, and the 10 grams was Rs.135,770. It is difficult to estimate the actual rate of gold as it changes daily due to some factors affecting its price. The fluctuation occurs due to Economic issues and global influences. On 30 July 2020, the rate of 24-carat gold per Ounce was Rs.422,302.
| 2020 July | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 296,906 | 9,545 |
| End of Month | 331,186 | 10,648 |
Gold rate in August 2023
On August 01, 2020, the gold rate for one tola of 24-karat in Karachi, Pakistan, was Rs.158,750. It’s important to note that gold prices in Pakistan are subject to frequent fluctuations based on conditions in the international market, Karachi Sarafa Bazar. The gold rate in Pakistan per Ounce of 24-karat was traded at Rs.423,483 here on August 30, 2020. Similarly, the price of 24-karat gold was officially noted or documented at Rs.120,020 per 10g in the bullion market.
| 2020 August | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 331,994 | 10,674 |
| End of Month | 325,642 | 10,470 |
Gold rate in September 2020
The gold rate in Pakistan on 1st September 2020, 24-carat per Tola was Rs.138,614. The gold rate in Pakistan per ounce of 24-karat was traded at PKR 369,771 here on Saturday, September 30, 2020. Similarly, the gold price for 24-karat was noted or documented at Rs.378,853 per ounce in the bullion market.
| 2020 Sep | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 326,220 | 10,488 |
| End of Month | 312,739 | 10,055 |
Gold rate in Oct 2020
The Gold rate in Pakistan on 1st Oct 2020 is Rs.145,353 per tola and Rs.124,660 per 10 gm. The Gold rate in Pakistan on October 30th, 2020, the price of 24-karat gold per tola reached was Rs.144,327. This change in gold prices is because of a big shift in the value of the US dollar. This shift highlights the relationship between the price of gold and currency values. These reports are mainly from Karachi and Multan local markets.
| 2020 Oct | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 314,245 | 10,103 |
| End of Month | 301,467 | 9,692 |
Gold rate in November 2020
The Gold rate in Pakistan in November 2020 was Rs.136,258 per tola and Rs.116,860 per 10 gm. It is difficult to estimate the exact price of gold because it changes daily due to some factors that affect its price. On November 30, 2020, the 24-carat gold was recorded at Rs.127,570 per 10 grams as per the bullion market.
| 2020 Nov | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 303,472 | 9,756 |
| End of Month | 283,642 | 9,119 |
Gold Price in Pakistan 1st December 2020
The Gold rate in Pakistan on 1st Dec 2020 was Rs.151,556 per tola and Rs.129,980 per 10 gm. In December 2020, gold prices rose by almost 281 rupees. The gold rate in Pakistan per tola on 31 December 2020 was Rs.154,833 for 24k gold, and 10 grams was Rs.132,790.
| 2020 Dec | Oz Gold Rate | 1 gram Gold Rate |
| Start of Month | 289,055 | 9,293 |
| End of Month | 304,037 | 9,775 |
Factors Affecting Gold Prices
The rate of gold did not remain constant, it fluctuated continuously due to several factors:
Supply and Demand Dynamic
The Price of gold depends on the supply and demand. When the demand for gold increases so, the prices directly rise.
Economic Condition
The Economic condition can impact inflation rates, GDP growth, and interest rates.
Currency Strength
The value of the Dollar affects the price of gold. When the weaker Dollar the prices become higher. It also depends on the currency.
Geopolitical Tension
The political instability and geopolitical tension can increase the demand for gold leading to higher prices.
Live Price of Gold in Different Cities
FAQs
What causes gold prices to fluctuate?
Gold prices can fluctuate due to various factors, including economic conditions, geopolitical tensions, changes in investor sentiment, and Dollar value.
Is gold a good investment during periods of economic uncertainty?
Yes, during uncertain times, gold is often considered a safe-haven asset. It depends on your situation and how much risk you’re comfortable with.
How do central bank policies impact gold prices?
Central bank policies impact on gold, such as interest rate adjustments and monetary stimulus measures, can influence broader economic conditions and, in turn, may affect gold prices.
How are gold prices determined in Pakistan?
Gold prices in Pakistan are determined based on international market fluctuations, supply-demand dynamics, and local market conditions, as observed by local associations like the Karachi Sarafa Bazar.
Conclusion
The fluctuation in gold prices in 2020 underscores the influence of various factors such as economic conditions, geopolitical tensions, interest rates, and investor sentiment. Understanding these dynamics is crucial for investors and consumers to navigate the volatile gold market effectively. Learn more about gold and silver from Gold pk.
