Gold rates in Pakistan; December 28, 2024

ISLAMABAD: The price of 24 karat per tola gold remained unchanged at Rs.273,200 on Saturday, All Sindh Sarafa Jewellers Association reported.

The 10 grams of 24 karat gold and 10 grams of 22 karat gold were also traded at same rates of Rs.234,225 and Rs.214,706 respectively.

The prices of per tola and ten gram silver remained constant at Rs 3,350 and Rs. Rs 2,872.08 respectively.

The price of gold in the international market witnessed no change and was traded at $2,620, the Association reported.

On the other hand, the rate of 24-karat gold in Saudi Arabia surged to 3,698 Saudi Riyals (SAR) per tola on Saturday, December 28, 2024.

As reported by Forex.pk, the price for 10 grams of 24-karat gold in Saudi Arabia is SAR 3,174. Furthermore, the price for an ounce of gold is SAR 9,871.

It is crucial to recognize that gold prices are influenced by global fluctuations, including those occurring within Saudi Arabia, and the figures provided were last updated at 12:55 am on December 28, 2024.

Gold, recognized as a highly esteemed precious metal, has held significant value for centuries and is integral to the global economy. Its worth is derived from its rarity, resilience, and universal attraction. Often viewed as a safe-haven asset, gold is utilized to safeguard wealth during periods of economic uncertainty.

Central banks and investors hold gold reserves to enhance the diversity of their investment portfolios and to shield against inflation and fluctuations in currency value.

The intrinsic appeal and finite supply of gold make it a highly desired material for jewellery and luxury goods. The demand for gold jewellery fosters economic activity across the mining, manufacturing, and retail industries.