Gold Price In Pakistan November 2024 To 2025 Update

Important Note on Gold Prices

Gold prices in Pakistan are highly volatile and can change multiple times a day. They are primarily determined by two factors:

1. International Gold Price (in US Dollars): The base value for gold worldwide.
2. USD to PKR Exchange Rate: Since gold is traded in USD, a weaker Pakistani Rupee makes gold more expensive in Pakistan, and vice-versa.

Gold Price Snapshot for November 2024

The month of November 2024 saw significant volatility, with prices reaching near all-time highs before experiencing a sharp correction.

Average Price (24k per Tola): The price generally fluctuated between PKR 215,000 and PKR 230,000 per tola for most of the month.
Key Event: A major peak occurred around November 18-20, where the price surged to approximately PKR 240,000 per tola, very close to the all-time high.
Month-End Close: By the end of November, the price had corrected and was trading around PKR 222,000 – PKR 225,000 per tola.

Here is a more detailed breakdown per gram and per tola for 24k gold:

Gold Type November Average Price (Per Tola) November Average Price (Per Gram) Key High (Mid-Nov) Month-End Price (Approx.)
24k Gold PKR 215,000 – PKR 230,000 PKR 18,400 – PKR 19,700 ~PKR 240,000 PKR 222,000 – PKR 225,000
22k Gold PKR 197,000 – PKR 210,000 PKR 16,900 – PKR 18,000 ~PKR 220,000 PKR 203,000 – PKR 206,000

(Note: 22k gold is calculated based on its lower purity. 1 Tola = 11.66 Grams)

What Caused the Volatility in November?

The price movement in November was a classic example of the factors that drive gold prices in Pakistan:

1. International Gold Market: Gold saw a rally in international markets due to:
   Expectations of US Interest Rate Cuts: When expectations rise that the US Federal Reserve might cut interest rates, gold (which doesn’t yield interest) becomes more attractive.
   Geopolitical Tensions: Ongoing conflicts in the Middle East and Ukraine increased demand for safe-haven assets like gold.
2. Pakistani Rupee (PKR) Volatility: The USD/PKR exchange rate was unstable. The rupee experienced significant pressure, which directly inflated the local gold price. The sharp peak in mid-November was largely attributed to a rapid depreciation of the PKR against the USD.
3. Local Demand and Speculation: Ahead of the wedding season, there is typically steady physical demand. Furthermore, speculators in the local market often jump in during rising trends, amplifying the price increases.

Disclaimer and How to Check Live Prices

The prices mentioned above are historical averages and estimates for the month of November 2024. They are for informational purposes only and should not be used for making actual transactions.

For the most accurate, live gold prices in Pakistan, always check reliable sources such as:

Major Bullion Associations: The Karachi Sarafa Association is the primary authority that sets official daily rates.
Financial News Websites: Sites like ARY News, Geo News, Bloomberg Urdu, and The News often have live tickers for gold and forex.
Banks and Local Jewelers: For actual buying or selling, always confirm the rate with your trusted jeweler or bank, as they include making charges (for jewellery) and may have a slight premium over the bullion price.

In summary, November 2024 was a roller-coaster month for gold in Pakistan, characterized by a strong rally followed by a notable correction, all driven by the complex interplay of global markets and the local economy.