Gold rates register increase in Pakistan

ISLAMABAD: The rate of 24 karat per tola gold in Pakistan increased by Rs.2,900 and was sold at Rs 280,800 on Wednesday against its sale at Rs 277,900 on previous trading day, All Sindh Sarafa Jewellers Association reported.

The rate of 10 grams of 24 karat gold also increased by Rs.2,487 to Rs.240,741 from Rs 238,254 whereas that of 10 gram 22 karat also went up to Rs.220,679 from Rs 218,400.

The rates of per tola and ten gram silver remained constant at Rs3,350 and Rs.2,872.08 respectively.

The price of gold in the international market decreased by $29 to $2,690 from $2,661, the Association reported.

On the other hand, the rate of 24-karat gold in Saudi Arabia dropped to 3,739 Saudi Riyal (SAR) as of Wednesday, January 15, 2025.

According to details from Forex.pk, the cost for 10 grams of 24-karat gold in Saudi Arabia stands at SAR 3,209. Additionally, the price for an ounce of gold is SAR 9,981.

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.

Gold Rates: Today in Pakistan

The inherent allure and limited availability of gold render it a sought-after material for jewellery and luxury items. The demand for gold jewellery stimulates economic activity across the mining, manufacturing, and retail sectors.