Trends in the last few days
As of Tuesday, 14th May, the rate per 1 tola has slightly decreased than that in the last 2 days. However, the overall trend over the last week has been ascending. The per tola increase in rate from yesterday stands at Rs.200/-. From 238800 to 239000 which calculates to a 0.8% increase. These records measure 24 Karat Gold, 23K and 22K rates differ from these statistics. Further, the rate varies across different major cities, for example Karachi, Lahore, Peshawar etc.
Factors contributing to gold rate fluctuation
Since US dollar is the global currency, the value of the dollar substantially affects the value and therefore price of gold. For instance, if the dollar becomes stronger, value of gold will simultaneously increase. Alterations in the U.S. Dollar Index serve as a significant driver for fluctuations in live prices on a daily basis. Other major drivers of live gold price can include the following:
- interest rate
- Currency markets
- Inflation or deflation
- Monetary policy
- Geopolitics
- Currency markets
- Investment demand
Consequently some of these factors, are responsible for this fluctuating rate in Pakistan.
