Gold rates in Pakistan increase further

ISLAMABAD: The price of 24 karat per tola gold witnessed an increase of Rs.500 and was sold at Rs. Rs 275,700 on Thursday against its sale at Rs 275,200 on previous trading day, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold also increased by Rs.428 to Rs.236,368 from Rs 235,940 whereas that of 10 grams 22 karat also went up to Rs.216,671 from Rs 216,278.

Per tola and ten-gram silver were also traded at the same rate at Rs 3,400 and Rs 2,914.95, respectively.

The price of gold in the international market increased by $5 to $2,645 from $2,640, the Association reported.

On the other hand, the price of 24-karat gold in Saudi Arabia increased to 3,720 Saudi Riyals (SAR) per tola on Thursday, December 5, 2024.

Also read: Gold rates in Saudi Arabia on December 5, 2024

This adjustment is indicative of the prevailing trends in the international gold market, which are subject to various influencing factors.

As reported by forex.pk, the cost for 10 grams of 24-karat gold in Saudi Arabia is currently SAR 3,193. Furthermore, the price for an ounce of gold is noted to be SAR 9,931.

It is essential to recognize that gold prices are subject to fluctuations on a global scale, including within Saudi Arabia, and the figures provided reflect updates recorded at 10:22 am on December 5, 2024.

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Gold, a highly valued precious metal, has been esteemed for centuries and holds a crucial position in the global economy. Its worth is attributed to its scarcity, resilience, and widespread desirability. Often regarded as a safe haven asset, gold serves to preserve wealth during times of economic instability.