Gold rates in Pakistan witness massive decline

ISLAMABAD: The rate of 24 karat per tola gold witnessed a sharp decrease of Rs.11,700 on Wednesday and was sold at Rs.352,000 against its sale at Rs. 363,700 on the previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.

The rates of 10 grams of 24 karat also decreased by Rs.10,031 to Rs.301,783 from Rs 311,814 whereas the price of 10 grams of 22 Karat decreased by Rs.9,195 to Rs.276,644 from Rs.285,839.

The rates of per tola silver increased by Rs.16 to rs.3,457 whereas that of ten gram silver went up by Rs.13 to Rs.2,963.

The price of gold in the international market decreased by $116 to $3,338 from $3,454 whereas that of silver went up by $0.16 to $32.93, the Association reported.

On the other hand, the 24-karat gold rates in Saudi Arabia registered a rise and were recorded at 4,808 SAR per tola on Wednesday, April 23, 2025.

As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 4,127, with an ounce of gold costing 12,836 Saudi Riyal.

Gold rates are influenced by global market trends, including those in Saudi Arabia, with the latest update noted at 10:00 am on April 23, 2025.

Following Donald Trump’s trade war, the gold rates globally are witnessing fluctuation.

For centuries, gold has remained a prized precious metal, holding a crucial place in the global economy.

Its worth comes from its rarity, resilience, and universal allure. Often seen as a safe-haven asset, gold is used to safeguard wealth during economic uncertainty.

Investors and central banks hold gold reserves to diversify portfolios and shield against inflation and currency volatility.

Gold’s price is shaped by numerous factors. Geopolitical tensions or concerns about a severe economic downturn can rapidly drive up gold prices due to its safe-haven appeal.

As a non-yielding asset, gold often rises when interest rates fall, while higher borrowing costs tend to pressure the yellow metal downward.