Gold is considered a very precious metal found under the crust of the earth. It is not only used in making jewelry but also used in many other industries. This metal is widely used in technology nowadays. It was recognized as an essential metal by the Egyptians for the very first time in 5000 B.C.
The Egyptian pharaohs used it in the decoration of their tombs, palaces, and thrones. Later, they started it as protection from spirits, black magic, witchcraft, and different diseases. The modern traders started using it as a tool of investment and as a currency. Pharmacology also started using gold in medicines for various diseases like malignant tumors, TB and arthritis, etc. So, nowadays, it is considered a very precious metal for investment and many other industries.
It is due to its extensive use that the value of gold is increasing day by day. So, the people invest in gold so that they could meet the unexpected rainy days.
Today, the gold rates in Pakistan have seen a slight decline. According to the Karachi Saraf Association, the gold rate in the international market remains the same as $1306.80. In Pakistan, the rate for 24K gold per 10 Grams is Rs 58,231.25 whereas; the rate for 24K gold per tola is Rs 67,848.84. In the same way, the rate of 22K gold per 10 Grams is Rs 53,378.65, and the rate of 22K gold per tola is Rs 62,194.77.
If we compare the rates of 24K gold per 10 Grams today and yesterday, we see that there is a slight decline of Rs 105.03 in the price of gold.