Gold rates go up in Pakistan

KARACHI: The rate of 24 karat per tola gold in Pakistan increased by Rs500 and was sold at Rs 282,900 on Monday against its sale at Rs 282,400 on previous trading day, All Sindh Sarafa Jewellers Association reported.

The rate of 10 grams of 24 karat gold also increased by Rs429 to Rs242,541 from Rs 242,112.

The rates of per tola and ten gram silver decreased by Rs9 and Rs8 to settle at Rs3372 and Rs2890 respectively.

The price of gold in the international market increased by $5 to $2,708 from $2,703, the Association reported.

While the price of silver in the international market decreased by $9 to $3,372 from $3,381.

Meanwhile, The rate of 24-karat gold in Saudi Arabia decreased to 3,796 Saudi Riyal (SAR) on Monday, January 20, 2025.

According to details from Forex.pk, the price for 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,258. Additionally, the price for an ounce of gold is SAR 10,134.

It is important to note that gold prices are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at at 08:30 am January 20, 2025.

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

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.