Gold Rate on Thursday – May 16, 2024
Gold rate on Thursday – May 16, 2024, for 1 Tola of 24 karat gold was Rs 240700, for 10 Grams of 24 Karat gold was Rs 206364, and for 1 Gram of 24 Karat Gold was Rs 20634 as per the given data, and update from Karachi Bullion Market. Internationally gold price reached a price of $2,386 per ounce.
Rs. 240,700
24 Karat Gold Price (1 Tola)
Rs. 206,364
24 Karat Gold Price (10 gm)
Rs. 20,636
24 Karat Gold Price (1 gm)
Once again the price of Gold experienced an increase due to the fluctuation in the International gold market and currency value in Pakistan which are co-related to each other that’s why the price of 24 karat gold risen to Rs 240700, further indication of an increase is approximately Rs 1060. If you want to know about the gold rate on May 15, 2024, you may visit here.
The Gold price fluctuates throughout the day because of the trends in the International gold market which directly or indirectly impacts on Pakistani market. The provided gold rates which you can see on our website are taken from a very reputable source named; Karachi Sarafa market. If you are excited to know about today’s gold rate you may visit here.
Gold Rate Fluctuation throughout the day
The fluctuation of the gold rate throughout the day depends upon the following factors, according to Pakistan standard time (PKT) Nationally and Internationally these fluctuations are given below;
| Pakistan Standard Time (PKT) | Gold Rate Nationally | Gold Rate Internationally |
|---|---|---|
| 12:30 am | Rs 239,750 | $ 2,361 |
| 08:30 am | Rs 239,850 | $ 2,362 |
| 10:00 am | Rs 240,700 | $ 2,380 |
| 11:30 am | Rs 240,700 | $ 2,380 |
| 12:30 pm | Rs 241,700 | $ 2,386 |
| 02:10 pm | Rs 241,700 | $ 2,390 |
| 04:30 pm | Rs 241,700 | $ 2,393 |
| 06:30 pm | Rs 241,700 | $ 2,393 |
| 08:00 pm | Rs 241,700 | $ 2,393 |
Factors Affecting Gold Rate Fluctuations
Fluctuation mainly depends upon Global economic factors, the stability of any country, and the changing value of US Dollars, we are living in the Islamic Republic of Pakistan and we have faced political and Economic instability for the last few years which directly impacts currency value that’s why Gold price increase or decrease.
Gold Rates by Purities on May 16, 2024
As you know Gold is a very precious metal and that’s why costly too so people buy Gold according to its purity. We provide you Gold rates by purities of 24 karats, 22 karats, 21 karats, 18 karats, and 12 karats as per international standards which influence the local gold market. You can easily find 1 kilo, 1 ounce, 1 Tola, 10 Gram, and 1 Gram of these different purities of gold in the following table below.
| Gold Rates | 24 Karat | 22 Karat | 21 Karat | 20 Karat | 18 Karat | 12 Karat |
|---|---|---|---|---|---|---|
| Per Tola | Rs 240700 | Rs 220641 | Rs. 210613 | Rs 200583 | Rs. 180525 | Rs. 120350 |
| Per 10 gm | Rs. 206360 | Rs. 189162 | Rs. 180565 | Rs 171970 | Rs. 154770 | Rs. 103180 |
| Per 1 gm | Rs. 20636 | Rs. 18916 | Rs. 18057 | Rs 17197 | Rs. 15477 | Rs. 10318 |
| Per Ounce | Rs. 585030 | Rs. 536274 | Rs. 511901 | Rs 487417 | Rs. 438773 | Rs. 292515 |
| Per Kg | Rs 20627990 | Rs 18908934 | Rs 18049534 | Rs 17189963 | Rs 15470992 | Rs 10313995 |
From the above table, you see the Gold rate by different weighs and Karats where you can easily find almost all Gold prices e.g.
Gold Prices in major cities of Pakistan
We also provide you with Gold Prices in major cities of Pakistan and you may know that Karachi is the main hub of the gold market known as ” Karachi Sarafa Market ” all over Pakistan.
In the given mention table you can easily find 24-karat and 22-karat Gold prices in different cities of Pakistan i.e. Karachi, Lahore, Islamabad, Quetta, Peshawar, Hyderabad, Multan, and Faisalabad.
| Major Cities | 24 Karat Gold Price – Per Tola | 22 Karat Gold Price – Per Tola |
|---|---|---|
| Karachi | Rs 240,700 | Rs 220,641 |
| Lahore | Rs 240,700 | Rs 220,641 |
| Islamabad | Rs 240,700 | Rs 220,641 |
| Multan | Rs 240,700 | Rs 220,641 |
| Peshawar | Rs 240,700 | Rs 220,641 |
| Hyderabad | Rs 240,700 | Rs 220,641 |
| Quetta | Rs 240,700 | Rs 220,641 |
| Faisalabad | Rs 240,700 | Rs 220,641 |
Note: All of these Gold rates mentioned above are to get a rough idea of what would be the Gold rate in Pakistan (on Thursday – May 16, 2024) according to the Karachi Sarafa Association and International Bullion market, the Gold rates mentioned in our website is only for the information purpose of our reader because gold rates change throughout the day and we mention the average of that rate which is the sum of all, so that’s why we can’t take responsibility of the rate preciseness for a certain day, and if you are local citizen than go to your nearest Sarafa market or jewelers shop for the accurate and precise rates.
Muhammad Asim Shahzad
Meet M. Asim Shahzad, a leading gold & silver market expert with a dedicated team of 10 fellows. Offering astute analysis & guidance, we empower investors nationally and internationally through our well-researched information. Wishing you prosperous investments ahead!
