Gold Rates in Pakistan - 24 - 22 - 21 - 18 Karat

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Postado 2024-05-14 19:01:34

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Gold Rates in Pakistan - 24 - 22 - 21 - 18 Karat

Resources to Check Today's Gold Rates:

Several online resources provide live gold price updates in Pakistan. Here are a few credible options:
- Sarmaaya.pk [sarmaaya gold rate ON Sarmaaya.pk]
- Business Recorder [gold price in pakistan ON Business Recorder brecorder.com]
- All Pakistan Gems and Jewellers Sarafa Association (APGJSA) reports are often quoted by news outlets (APGJSA doesn't publish rates directly). You can find news articles mentioning their rates.

Gold Carat Categories:

Gold is measured in carats (kt), which indicates its purity. Here's a quick explanation of common categories:

24 Karat (kt): Pure gold, very soft and rarely used in jewelry due to its malleability.
22 Karat (kt): Considered the purest form of gold commonly used in jewelry making, offering a good balance of purity and durability.
21 Karat (kt): Also popular for jewelry, with a slightly lower gold content than 22kt for increased strength.
18 Karat (kt): A common choice for everyday wear due to its higher durability compared to higher karat gold.

Price Variation by Carat:

The price of gold directly correlates with its karat value. Generally, the higher the karat, the more expensive the gold. Shops typically advertise the price based on 24kt gold, and then calculate the price for lower karats based on their weight and purity.

Remember:

Gold prices can fluctuate throughout the day, so it's advisable to check rates shortly before making a purchase.
Prices may also vary slightly between cities and retailers.

How much is 1 tola in gold?

One tola is a unit of weight traditionally used for gold in South Asian countries, and it is equivalent to approximately 11.6638 grams.

It's important to note that while some sources define a tola as exactly 11.6638 grams, others, particularly jewellers in India, may round it down to a simpler 10 grams for easier calculations.

Therefore, depending on the context, 1 tola could represent slightly different weights. If you're unsure, it's always best to clarify with the seller.

Which gold is best, 22K or 24k?

There's no single "best" between 22k and 24k gold, as the ideal choice depends on what you prioritize:

24k Gold:

Pros:
- Purest form of gold (99.9%) with a richer, brighter yellow color.
- Considered a better store of value due to its higher gold content.
Cons:
- Very soft and prone to scratches and dents, making it unsuitable for everyday wear in jewelry.
- More expensive due to its higher purity.

22k Gold:

Pros:
- More durable than 24k due to the presence of 8.3% alloy metals like copper or silver. This makes it ideal for everyday wear in jewelry.
- Generally less expensive than 24k gold.
- Offers a deeper, warmer gold color that some find aesthetically pleasing.
Cons:
- Lower gold content (91.67%) compared to 24k.

Here's a quick breakdown to help you decide:

Choose 24k gold if:
- You prioritize purity for investment purposes (gold bars or coins).
- You rarely wear the jewelry and want the richest gold color.
Choose 22k gold if:
- You want jewelry for everyday wear that's more durable and scratch-resistant.
- You're on a budget.

Remember, other karat options like 18k or 14k offer even greater durability but with a lower gold content. They might be a good choice for frequently worn jewelry pieces.

Should I buy 18k or 22K gold?

Deciding between 18k and 22k gold depends on your priorities:

18k Gold:

Pros:
- Most durable option: 18k gold is much stronger than 22k due to the higher percentage (25%) of alloy metals. This makes it ideal for everyday wear jewelry like rings, bracelets, and chains that go through more wear and tear.
- Good balance of color and affordability: 18k offers a warm, rich gold color that many find appealing. It's generally less expensive than 22k.
- Hypoallergenic: The alloy metals in 18k can sometimes reduce the chance of allergic reactions for people with sensitive skin.
Cons:
- Lower gold content (75%): If you prioritize high gold purity, 18k might not be the best choice.

22k Gold:

Pros:
- Higher gold content (91.7%): Offers a closer look and feel to pure gold with a brighter yellow color.
- Good for occasional wear: While more durable than 24k, 22k is still softer than 18k and might bend or scratch with frequent wear. It's a good option for pieces you won't wear every day.
- Potential investment value: Due to the higher gold content, 22k might be considered a better store of value compared to 18k.

Here's a recommendation based on your needs:

Choose 18k gold if:
- You want jewelry for everyday wear.
- Durability is a major concern (rings, bracelets, etc.).
- You have sensitive skin.
- You want a good balance between affordability and gold content.
Choose 22k gold if:
- You prioritise a higher gold content and a richer gold color.
- The jewellery is for occasional wear or special occasions.
- Investment value is a secondary concern.

Additional factors to consider:

Design: Intricate designs might benefit from the extra durability of 18k.
Budget: 18k is generally less expensive than 22k.
Personal preference: Ultimately, the choice comes down to what looks and feels best for you.

If you're still unsure, consult a jeweller. They can help you assess your needs and recommend the best gold karat for your specific situation.

Is 22K more expensive than 24k?

No, 22K gold is actually less expensive than 24K gold. This might seem counterintuitive at first, but here's why:

Purity: 24K gold is the purest form of gold, containing 99.9% gold. 22K gold, on the other hand, is 91.67% gold, with the remaining 8.33% being a mix of other metals like copper or silver.
Manufacturing: Since 24K gold is so soft, it's difficult to work with and not ideal for jewellery making. The added metals in 22K gold make it more durable and easier to craft into intricate designs.

While the raw materials for 24K might be slightly more valuable due to its higher gold content, the additional cost of working with such soft metal pushes the final price of 24K jewelry higher.

In summary:

More gold content (24K) translates to higher purity, but also higher difficulty to work with and potentially higher cost due to wasted material.
Lower gold content (22K) allows for easier jewellery creation and a more affordable price point.

How to identify 24 carat gold?

Identifying 24 carat gold at home can be tricky because it's very soft and rarely used in jewelry due to its malleability. However, here are some methods you can try, but it's important to remember they might not be definitive:

Visual Inspection:

Hallmark: Look for a small inscription or stamp on the gold, usually on the clasp or inner band for jewelry. This hallmark indicates the gold's purity and may include the karat number (e.g., "24K"). However, not all gold has a hallmark, and counterfeit hallmarks exist.

Physical Properties:

Softness: 24K gold is very soft. You can try gently scratching it with your fingernail. If it leaves a mark, it's likely not pure gold. However, this test isn't foolproof as some harder metals can also be scratched with a fingernail.

Limited Usefulness of Home Tests:

Acid Test: This method, involving nitric acid, can be dangerous and damage the gold. It's not recommended for at-home use.
Electronic Testers: These require some expertise to use accurately and may not be readily available to everyone.

For Reliable Identification:

Professional Jeweler: The safest and most reliable way to identify 24 karat gold is to take it to a reputable jeweler. They have the tools and expertise to accurately assess the gold's purity using methods like X-ray fluorescence (XRF).

Additional Tips:

When buying gold, especially if it's advertised as 24 karat, it's wise to get a certificate of authenticity from a reputable jeweler.
Consider if 24 karat is the best choice for your needs. Due to its softness, it's not ideal for everyday wear jewelry.

Can we convert 24K gold to 22K gold?

Yes, you can convert 24K gold to 22K gold by melting the 24K gold and mixing it with a specific amount of other metals like copper or silver. Here's a breakdown of the process:

The Mixing Process:

Melting the 24K Gold: A jeweler or refiner would first melt the 24K gold in a high-temperature furnace.
Calculating the Alloy Mix: To achieve 22K gold, the jeweler would need to calculate the precise amount of alloy metals (typically copper or silver) to add to the melted gold. This ensures the final product has the desired 22 parts gold and 2 parts other metals.
Mixing and Refining: The calculated amount of alloy metal would then be carefully mixed with the molten gold. The mixture would be further refined to ensure a uniform composition throughout the metal.
Shaping and Finishing: Once the desired 22K gold is obtained, it can be cast into molds or shaped into various forms for jewelry making or other purposes.

Important Considerations:

Expertise Required: Converting gold karat requires specific equipment, knowledge of metal properties, and safety protocols. It's not a DIY project.
Material Loss: There might be some minimal gold loss during the melting and refining process.
Cost-Effectiveness: Depending on the amount of 24K gold you have, the cost of professional melting, refining, and alloying might outweigh the benefit of converting it to 22K.

Alternatives to Conversion:

If you're looking for a more readily available option, you can directly purchase 22K gold from a reputable jeweler.
You could consider selling your 24K gold and using the money to buy 22K gold jewelry.

Overall, while converting 24K gold to 22K is technically possible, it's best left to professional jewelers or refiners. Depending on your situation, alternative options might be more practical.

How to calculate gold price?

There are two main contexts for calculating gold price:

For a specific gold item you want to buy or sell:

In this case, you typically don't need to calculate the gold price yourself. Here's what you do:

Find the current market price of gold per unit weight (e.g., per gram, tola). You can find this information online through resources like Sarmaaya.pk [sarmaaya gold rate ON Sarmaaya.pk] or Business Recorder [gold price in pakistan ON Business Recorder brecorder.com].
Identify the karat (purity) of the gold item (e.g., 22K, 18K).
Know the weight of the gold item. This might be engraved on the item itself or measured by a jeweler.

Once you have this information, you can use the following formula to estimate the price of the gold item:

Price of gold item = (Market price per unit weight) x (Weight of the item) x (Purity factor)
- Purity factor = Karat value / 24 (since 24K is considered pure gold)

For the overall gold market:

This is a complex process involving factors like supply and demand, global economic conditions, and currency exchange rates. It's not something an individual can easily calculate. Financial markets and institutions use sophisticated tools and analysis to determine these prices.

Here are some additional points to remember:

The price you pay for a gold item at a jeweler will usually include a markup over the base gold price to cover labor, overhead costs, and profit.
Gold prices can fluctuate throughout the day, so it's advisable to check rates shortly before making a purchase.

How to check original gold?

Identifying genuine gold, especially at home, can be tricky. Here are some methods with varying degrees of reliability: