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Gold Price Formula:
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The Gold Price Calculator Pakistan calculates the price of gold per gram in Pakistani Rupees (PKR) based on international spot prices in USD per ounce and the current USD to PKR exchange rate.
The calculator uses the gold price formula:
Where:
Explanation: The formula converts the international gold price from ounces to grams and then converts from USD to PKR using the current exchange rate.
Details: Accurate gold price calculation is crucial for investors, jewelers, and individuals buying or selling gold in Pakistan. It helps in making informed financial decisions and understanding the true value of gold assets.
Tips: Enter the current international gold spot price in USD per ounce and the current USD to PKR exchange rate. Both values must be positive numbers for accurate calculation.
Q1: Why divide by 31.1 in the formula?
A: There are 31.1 grams in one troy ounce, which is the standard unit for precious metals trading internationally.
Q2: Where can I find current gold spot prices?
A: Current gold spot prices are available on financial websites, commodity exchanges, and precious metals trading platforms.
Q3: How often should I update the exchange rate?
A: Exchange rates fluctuate throughout the day, so it's best to use the most current rate available for accurate calculations.
Q4: Does this include local taxes or making charges?
A: No, this calculates the base gold price only. Local taxes, making charges, and dealer margins are additional costs.
Q5: Is this calculator suitable for all gold purities?
A: This calculates the price for 24-karat gold. For lower purities, multiply the result by the karat percentage (e.g., 0.916 for 22-karat).