Gold rates in Pakistan drop further

ISLAMABAD: The price of 24 karat per tola gold decreased by Rs.1,700 and was sold at Rs.274,500 on Monday December 02, 2024, against its sale at Rs. 276,200, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold also went down by Rs.1,457 to Rs.235,340 from Rs. 236,797 whereas that of 10 gram 22 karat gold decreased to Rs.215,728 from Rs. 217,064.

The price of per tola and ten gram silver remained constant at Rs.3,400 and Rs.2,914.95, respectively.

The price of gold in the international market decreased by $17 to $2,633 from $2,650, the Association reported.

In Saudi Arabia, the rates of per tola price 24-karat gold on December 2 dropped to 3,723 Saudi Riyal (SAR).

Also read: Gold rates in Saudi Arabia today – 2 December 2024

According to forex.pk, the 10 grams of 24-k gold is being sold for SAR 3,195 in the kingdom while the per ounce gold price stands at SAR 9,938.

Note: The gold price across the world, including Saudi Arabia, changes constantly and there will be some differences in this post as the prices were updated at 10:42 am on December 2, 2024.

On November 30, the price of 24-karat gold per tola in Saudi Arabia experienced a surged-on Saturday, November 30, settling at 3,740 Saudi Riyals (SAR).

Additionally, according to forex.pk, the price for 10 grams of 24-karat gold were recorded at SAR 3,209 while the price per ounce of gold were set at SAR 9,983.

Gold, a timeless asset shaping economies

Gold, a precious metal prized for centuries, continues to play a significant role in the global economy. Its value lies in its rarity, durability, and universal appeal. Gold is often seen as a safe haven asset, preserving wealth during economic uncertainties.

Central banks and investors hold gold reserves to diversify portfolios and hedge against inflation and currency fluctuations.