Big Changes In Gold Prices
Introduction
Gold price in Pakistan underwent significant changes on 15 November 2023. Per tola, gold prices decreased by Rs. 2,000, while 10 gram gold prices fell by Rs. 1,ooo. This decline in Gold Prices in Pakistan
was attributed to a number of factors, including:
was attributed to a number of factors, including:
- A stronger Pakistani rupee: The Pakistani rupee has strengthened against the US dollar in recent weeks, which has made gold imports cheaper.
- A decline in global gold prices: Global gold prices have also been declining in recent weeks, due to a number of factors, including rising interest rates in the United States and a stronger US dollar.
- Reduced demand from investors: Investor demand for gold has also declined in recent weeks, as investors have shifted their focus to other assets, such as stocks and bonds.
Impact on Consumers
The decline in gold prices is good news for consumers in Pakistan, as it will make gold more affordable. This is especially important for low-income consumers, who often view gold as a safe haven investment.
Outlook for Gold Prices
Gold prices are expected to remain volatile in the coming weeks and months. However, the overall trend is likely to be bearish, due to rising interest rates in the United States and a stronger US dollar.
The decrease in the gold rate is good news for Pakistani consumers, who will now be able to buy gold at a lower price. However, it is important to note that the gold rate can fluctuate rapidly, and it is always important to do your research before buying or selling gold.
Here is a table of the gold rates in Pakistan today, November 13, 2023:
| Karat | Per Tola (Rs.) |
Per Gram (Rs.) |
| 24 | 211,000 | 18,175 |
| 22 | 195,167 | 16,817 |
| 21 | 191,333 | 16,525 |
| 18 | 165,333 | 14,225 |
Conclusion
The decline in gold prices on 12 November 2023 is good news for consumers in Pakistan. However, investors should be cautious, as gold prices are expected to remain volatile in the coming weeks and months.