1 tola

Factors affecting 1 tola gold price in Pakistan this week


Gold has long been considered a valuable asset and a store of wealth in Pakistan, making it a popular investment option for many individuals. The demand for gold in Pakistan is mainly driven by cultural traditions, where it is often used as a gift for special occasions such as weddings and religious events. These events also affect  1 tola gold price in Pakistan.There are several ways to invest in gold in Pakistan, including purchasing physical gold in the form of jewelry or bullion, investing in gold exchange-traded funds (ETFs), and trading gold futures contracts on the Pakistan Mercantile Exchange (PMEX).

Gold Rate 24K Gold Rate Today 22K Gold Rate Today 21K Gold Rate Today 18K Gold Rate Today
Gold Rate per Tola Today Rs 202,500 Rs 185,624 Rs 177,187 Rs 151,875
Gold Rate per 10 Gram Today Rs 173,611 Rs 159,143 Rs 151,910 Rs 130,208
Gold Rate per Gram Today Rs 17,361 Rs 15,914 Rs 15,191 Rs 13,021
Gold Rate per Ounce Today Rs 492,181 Rs 451,163 Rs 430,658 Rs 369,135

                                           Source: Daily times -Gold prices on 24th March,2023

The 1 tola gold price in Pakistan (24K) started the week at  Rs 200,000 and ended  the week  at Rs 200500. If you are an investor and looking to invest in the bullion market, then keep reading on as we will discuss some of most important factors affecting bullion market this week.

Global demand and supply

Gold market gained in the international market for fourth straight week. The gold price in the international market started the week at  $ 1993/ounce and ended the week at $2001/ounce. Experts believe that the U.S banking crisis is influencing the fresh bullion buying by investors. However, US dollar rebound has somewhat put brakes on the gold rise.

Nevertheless the, the investor flight to safe havens was still obvious as Germany’s Deutsche Bank turn out to be another bank trapped in the U.S.-to-Europe banking crisis. In addition to that , increased inflation also keeping gold on investors’ minds .Pakistani experts and investors  believe that U.S.-to-Europe banking crisis is pushing bullion prices high and it would also affect the 1 tola gold price in Pakistan.

USD to PKR exchange rate

Chinese aid has left a stabilizing effect on the US to PKR exchange rate. It is a positive yet temporary effect . The PKR  started the week at Rs 281 and ended the week at Rs 283.12.

Experts in foreign exchange think that the dollar’s value might increase in the near future due to worsening economic situation in Pakistan. And that might start a favorable period for investors interested in the precious metals as there is an inverse relationship between US to PKR exchange rate and 1 tola gold price in Pakistan .


High Inflation has become quite problematic for the Pakistani economy as it is hurting the public badly. The all-time high flour prices pressed weekly inflation up 1.80 % on weekly basis and 46.65 % on  yearly basis. According to the Pakistan Bureau of Statistics (PBS) data ,there was a surge in the sensitive price indicator (SPI) as 71.77 %, 42.32 % , 11.47 % , 11.07 % and 7.34 %  price increase seen of tomatoes , wheat flour , potatoes ,bananas ,tea  respectively .

It is a common observation that  high inflation pushes the 1 tola gold price in Pakistan high. As, investors mostly view gold  as a hedge against inflation .They also believe that precious metals have the capacity to help them safeguard their purchasing power. Experts expect an increase in gold demand as inflation is at peak level in Pakistan right now .Therefore, Pakistani investors should invest in the gold bullion during current economic uncertainty.

Political and economic stability

Political and economic uncertainty is intensifying precious metals demand in the country . An economic crisis comes around every few years in Pakistan. The ongoing economic and political crisis has engulfed Pakistan. As,its foreign exchange reserves are just above $ 4 billion and exports are on decline for the last five months. Moreover, IMF has projected that GDP growth rate will be around 2 % in 2022-23 that was 6 % in 2021-2022. In addition to that, Pakistan’s external debt and liabilities have reached $130 billion that is  95.39 % of its GDP. On the other hand, IMF is still not satisfied with the actions taken by the PML-N government . And it wants gulf countries to fulfill their obligations to finance the Pakistani economy before release of $6.5 billion bailout package. Therefore, Pakistan’s economy is now totally dependent on expected package from friendly gulf countries.

On the political front,the situation is also not so encouraging .The election commission of Pakistan has suddenly delayed the Punjab elections by violating the instructions given by the Supreme Court. PML-n led government is also planning to curtail the authority of chief justice by passing simple law in assembly. And it will create divisions among institutions. Experts believe that ongoing political uncertainty will drive the 1 tola gold price in Pakistan.

What to do?

Before making any type of gold purchase, investors must examine the market environment. For instance: Given that the price of 1 tola of gold in Pakistan is anticipated to rise further this year, it is currently advantageous to retain precious metals over the long term.As a result, gold is a solid investment option, but the gold investment you choose will rely on your long-term financial goals.

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