Gold rates reach all-time high in Pakistan

ISLAMABAD: The rates of 24 karat per tola gold increased by Rs.7,800 and was traded at Rs.328,800 on Thursday as compared to its sale at Rs321,000 on the previous trading day, All Pakistan Sarafa Gems and Jewellers Association reported.

The rates of 10 grams of 24 karat also increased by Rs.6,688 to Rs 281,893 from Rs. 275,205 whereas the prices of 10 gram 22 karat gold also went up by Rs.6,131 to Rs.258,411 from Rs 252,280, respectively.

The rate of per tola silver witnessed an increase of Rs64 and closed at Rs3,234 and that of ten gram silver rose by Rs55 to close at Rs2,772.

The rate of gold in the international market increased by $78 to $3,118 from $3,040, whereas silver surged by $0.64 to close at $30.94, the Association reported.

On the other hand, the 24-karat gold rates in Saudi Arabia recorded surge and were recorded at 4,217 Saudi Riyal (SAR) per tola on Thursday, April 10, 2025.

The rate of the yellow metal on Wednesday was 4,196 Saudi Riyal (SAR) per tola.

According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,620. Additionally, the price for an ounce of gold is 11,258 in Saudi Riyal.

Gold rates are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at 10:00 am April 10, 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.

The price of gold depends on a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make gold rates escalate due to its safe-haven status.