Gold rates witness increase in Pakistan

ISLAMABAD: The rate of 24 karat per tola gold witnessed a hike of Rs1620 on Saturday and was traded at Rs.325,000, All Pakistan Sarafa Gems and Jewelers Association reported.

The rates of 10 grams of 24 karat gold increased by Rs 1389 and reached Rs 278,635. The rate of gold in the international market rise by $10 and reached  $3,084.

On the other hand, the 24-karat gold rates in Saudi Arabia reached 4,287 Saudi Riyal (SAR) per tola on Saturday, March 29, 2025.

According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,680. Additionally, the price for an ounce of gold is 11,445 Saudi Riyal.

Gold rates are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at 10:00 am March 28, 2025.

Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.

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Its value stems from its scarcity, durability, and widespread appeal. Frequently regarded as a safe-haven asset, gold is employed to preserve wealth during times of economic instability.

Central banks and investors maintain gold reserves to diversify their investment portfolios and protect against inflation and currency value fluctuations.

The price of gold depends on a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make gold rates escalate due to its safe-haven status.

As a yield-less asset, gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal.