Pakistan Gold Price Today 2 February 2021: Gold prices at 88,106 per 10 gram
Gold today rates on Pakistan live for 2.2.2021. Check now the gold rates today updated
As per the latest data of 2nd February 2021, the Gold rate is Rs. 95,400 per 10 grams and the Gold price currently is Rs 1,11,300 per tola in Pakistan. The gold market attracts people globally with daily fluctuations in its rate. Pakistan with a high population i.e. over 220 million with the 22nd largest economy evidently has a huge market.
Profits and the increasing demand for gold is considered as a high source of income for various businesses. Women wear gold as ornaments or pieces of jewelry while a small gram of gold is also used as a gift on various occasions.
Gold Rate in Pakistan Today, 2nd February 2021
| Gold Rate | 24K Gold | 22K Gold | 21K Gold | 18K Gold |
| 5 Grams Gold | Rs. 48,058.15 | Rs. 44,053.30 | Rs. 97388 | Rs. 83475 |
| per 10 Gram | Rs. 96,116.30 | Rs. 88,106.60 | Rs. 83475 | Rs. 71550 |
| per Gram Gold | Rs. 9,611.63 | Rs. 8,810.66 | Rs. 8348 | Rs. 7155 |
Pakistan’s Karachi, a hotspot of the Gold market
Talking about the main hub for this business, Karachi is said to be leading in gold prices followed by every city. The Karachi Sarafa Bazar Association is looked up to by others to follow the trend of gold price. According to the current data, different cities including Karachi, Lahore, Islamabad, Peshawar, and Quetta share the same gold rate.
A vibrant market Pakistan gold Price Today
The traditional surge in jewelry demand during the festive and wedding seasons impacts gold prices. The demand for gold in the market keeps updating according to per capita income. Due to its huge market, the consumption demand affects its rate. People want to invest or buy gold to protect themselves from volatility and uncertainty. When inflation increases, the value of the currency goes down and therefore people tend to hold money in the form of gold. Therefore, in times when inflation remains high over a longer period, gold becomes a tool to hedge against inflationary conditions considering the recent COVID pandemic. This pushes gold prices higher in the inflationary period.
Future gold demand in Pakistan
According to some estimates, the global demand for gold is 1,000 tonnes more than the supply. Most of the time the gold is recycled due to a lack of mining capacity. Therefore, less supply results in a change of gold rates. Inflationary pressures in the world economy are positive drivers of gold prices.
Comments are closed.