Gold rates drops in Pakistan
- By Web Desk -
- Feb 25, 2025
ISLAMABAD: The price of 24 karat per tola gold decreased by Rs.800 and was sold at Rs 308,700 on Tuesday (February 25, 2025) against its sale at Rs 309,500 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
The price of 10 grams of 24 karat gold also decreased by Rs 686 to Rs 264,660 from Rs.265,346 whereas that of 10 gram 22 karat went down by Rs.629 to Rs 243,613 from Rs. 243,242.
The prices of per tola silver decreased by Rs.45 to Rs,3,350 and that of ten gram went down by Rs.38 to Rs.2,872.
The price of gold in the international market decreased by $8 to $2,940 from $.2,948 whereas the prices of silver in international market went down by $0.40 to $32.20, the Association reported.
On the other hand, the 24-karat gold rates in Saudi Arabia were recorded at 4,135 Saudi Riyal (SAR) per tola on Tuesday, February 25, 2025.
According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,549. Additionally, the price for an ounce of gold is SAR 11,038.
Read more: Saudi Riyal to Pakistani rupee rate; February 24, 2025
It is important to note that gold rates are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at 10:30 am February 25, 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.
As a yield-less asset, gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal.