Gold Rates in Pakistan

Gold rates in Pakistan today. Latest gold prices in Karachi/Lahore/Islamabad and other cities of Pakistan. Gold prices are changing daily so you need to keep yourself updated with latest rates.

About Gold Rates in Pakistan

Gold rates in Pakistan have increased significantly during the span of last 2-3 years. Due to this increase the general public specially the middle class has been affected to much. Their buying power is reduced and now they can only carry out window shopping of gold.

Gold Rates in Pakistan

Increased gold rates had some negative affects on the society also. Dacoity and gold snatching activities have increased at an alarming rate. Newspapers and media is full of stories where ladies are deprived of their gold belongings in markets and parks etc. In addition to this it has put middle the middle and lower classes into inferiority complex.

Sudden spike in gold rates in Pakistan have further increased the gap between rich and poor people. People already having large holdings of gold became very rich whereas gold has become out of reach for poor people. Gold no doubt is a precious metal and every lady has a great desire to own beautiful gold ornaments. It is considered as a status symbol and in some cases a show off thing to.

Gold prices in Pakistan are tied up with dollar rate and international gold market. So gold rates have not only gone up in Pakistan but it has seen an upward trend all around the world. China has the largest gold holdings in the world but this is mostly at government level and the general public is at the same poor level.

I was discussing the matter of gold rates with a local jeweler and he told me that Rs.1 increase in dollar rate makes gold Rs.800 more expensive. That is to say, if dollar rate goes from Rs 105 to 106 then gold price of 1 tola will go up by Rs.800. So increased dollar rates make the jewelers and people in gold business rich whereas it burdens the pockets of the general public.

Increased gold rates have helped the middle class to some extent too. This is because a lot of people have sold gold at high rates and invested the money in real estate that has benefited them. Due to this price spike another related business has been started at full swing and that is of imitation jewellery.

A great number of people have entered in this business and made good deal of money. Due to the reasons stated above demand of imitation jewellery has significantly increased. Ladies have now started preferring imitation jewellery because either they can’t afford real gold ornaments or they are afraid of dacoits.

Whatever is the case, high gold prices in Pakistan has several impacts on the society financially and psychologically. Now it is the duty of the ladies to reshape their thinking and don’t make gold a matter of their prestige. Due to the present economic conditions and government policies there seem to be no chance that gold rates in Pakistan can come down where everybody can enjoy the ownership of gold.

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