Gold prices witness surge in Pakistan, global market

Following the trend in international market, the rate of gold in Pakistan also surged by Rs6,600 per tola on Wednesday, May 21, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The price of 24-karat gold increased by Rs6,600 and the selling was closed at Rs349,400 on the trading day. Similarly, the prices of 10 grams of 24 karat also increased by Rs5,659 to Rs299,554.

The global gold market mirrored the upward trend, with prices increasing by $66 to $3,310 per ounce.

Meanwhile, the 24-karat gold rates in Saudi Arabia were recorded at 4,450 SAR per tola on Wednesday, May 21, 2025.

As per Forex.pk, 10 grams of 24-karat gold rates in Saudi Arabia is currently valued at SAR 3,896, with an ounce of gold costing 11,869 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 21, 2025.

Gold, the yellow metal, has been a symbol of wealth and prosperity for centuries.

Beyond its ornamental value, gold has played a significant role as a safe haven asset, providing a refuge for investors during times of economic uncertainty, geopolitical tensions, and market volatility.

In recent years, gold’s safe haven status has been reaffirmed, as investors seek shelter from the storms of global economic and political instability.

Gold’s appeal as a safe haven asset is not limited to institutional investors.

Individual investors, seeking to protect their wealth from market volatility and economic uncertainty, have also turned to gold.