Gold Rate Today Lahore 17-June-2023
Gold Rate Today Lahore 17-June-2023 – Gold has always been an important and valuable commodity in Pakistan, with its cultural significance dating back centuries. Today, gold remains a popular investment option for both individuals and businesses, with its value constantly fluctuating based on a myriad of factors.
|Gold Rate in Pakistan Today – 17 June 2023||24K Gold Rate Today||22K Gold Rate Today|
|Per Tola Gold||Rs. 221,000||Rs. 202,583|
|Per 10 Grams||Rs. 189,472||Rs. 173,682|
|Per Gram Gold||Rs. 18,947||Rs. 17,368|
The Current Gold Rates in Pakistan
As of August 2021, the price of gold in Pakistan is approximately PKR 111,000 per tola (11.66 grams) for 24 karat gold. However, the price of gold can vary depending on the weight and karat of the gold being purchased.
Using the Gold Price Calculator
To determine the exact value or rate of gold based on weight and karat, individuals can use the Gold Price Calculator. This tool takes into account the current market rate of gold and provides an accurate estimate of the value of the gold being purchased.
Factors Affecting the Value of Gold
The value of gold is determined by a variety of factors, including supply and demand, ETFs (exchange-traded funds), and the value of the U.S. dollar.
Supply and Demand
Like any other commodity, the price of gold is affected by the laws of supply and demand. When there is a high demand for gold and a limited supply, the price of gold increases. Conversely, when there is a low demand for gold and a high supply, the price of gold decreases.
ETFs are investment funds that trade on a stock exchange, allowing individuals to invest in gold without physically owning it. The value of these ETFs can affect the price of gold, as investors may choose to invest in ETFs rather than physical gold.
Value of the U.S. Dollar
As gold is traded in U.S. dollars on the global market, the value of the U.S. dollar can have a significant impact on the price of gold. When the value of the U.S. dollar is high, the price of gold tends to be low, and vice versa.
Cultural Significance of Gold in Pakistan
Gold holds great cultural significance in Pakistan, with many proverbs and idioms associated with it. For example, the proverb “Sona chandi kya karenge, zamane wale bhi na karenge” translates to “What will gold and silver do, when even the people of the world won’t last forever.” These proverbs and idioms can not only improve one’s communication skills and vocabulary but also demonstrate the importance of gold in Pakistan’s culture.
Staying Up-to-Date on the Current Market Rates
To ensure that individuals are getting the most accurate gold rates, it is important to stay up-to-date on the current market rates and consult with local gold dealers/jewelers. By doing so, individuals can make informed decisions about their investments and purchases related to gold.
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References:  What Drives the Price of Gold?  The economist hears two people talking:Person 1: I receive…  100 Common Proverbs with Meaning and Examples