Gold rates witness increase in Pakistan following global price surge

ISLAMABAD: The rates of 24 karat per tola gold in Pakistan witnessed an increase of Rs.3,700 on Tuesday (13 May 2025) and were sold at Rs.344,200 against its sale at Rs.340,500 on the previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.

The prices of 10 grams of 24 karat also increased by Rs.3,173 to Rs.295,096 from Rs.291,923.

The price of gold in the international market increased by $37 to $3,258 from $3,221.

Meanwhile, 24-karat gold rates in Saudi Arabia were recorded at 4,574.06 SAR per tola on Tuesday, May 13, 2025.

As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 3,921.59, with an ounce of gold costing 12,196.93 Saudi Riyal.

Gold prices, including those in Saudi Arabia, continue to be shaped by global market dynamics, with the latest update recorded at 10:00 a.m. on May 13, 2025.

For centuries, gold has held a prestigious position in the world economy, prized for its rarity, durability, and enduring appeal. It is widely regarded as a safe-haven asset, offering financial protection during periods of economic uncertainty.

Both investors and central banks maintain gold reserves to diversify holdings and safeguard against inflation and currency fluctuations.

Several factors influence the value of gold. Geopolitical tensions and fears of economic downturns often trigger a surge in demand due to gold’s reputation as a secure investment.

Moreover, as a non-interest-bearing asset, gold tends to perform well when interest rates decline, while rising borrowing costs typically weigh on its price.

Meanwhile, after a slight decline, the Saudi Riyal (SAR) was recorded at Rs75.06 against the Pakistani Rupee (PKR) in the open market on Tuesday, May 13, 2025.

The Saudi Riyal’s selling rate was noted at Rs75.61.