Gold rates register increase in Pakistan

ISLAMABAD: The price of 24 karat per tola gold increased by Rs.2,200 and was traded at Rs.276,900 on Friday January 03, 2025 against its sale at Rs.274,700 on the last trading day, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold increased by Rs.1,886 to Rs.237,397 from Rs. 235,511 whereas that of 10 grams of 22 karat went up to Rs.217,614 from Rs.215,885.

Per tola and ten gram silver were sold at existing prices of Rs 3,350 and Rs.2,872.08 respectively.

The price of gold in the international market increased by $22 to $2,657 from $2,,635, the Association reported.

On the other hand, the price of 24-karat gold in Saudi Arabia has increased to 3736 Saudi Riyals (SAR) per tola on Friday, January 3, 2025.

As per details from Forex.pk, the price for 10 grams of 24-karat gold in Saudi Arabia is SAR 3,207. Furthermore, the price for an ounce of gold is SAR 9,974.

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 11:45 am on January 3, 2025.

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.