Gold prices go up in Pakistan

The price of 24 karat per tola gold increased by Rs4,250 and was sold at Rs287,450 on Wednesday against its sale at Rs283,200 on a previous trading day, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold also increased by Rs3,642 to Rs246,440 from Rs 242,798 whereas that of 10 gram 22 karat also went up to Rs225,911 from Rs222,565.

The prices of per tola silver increased by Rs59.40 to Rs3,431 whereas that of ten gram silver went up by Rs51.50 to Rs51.50 and Rs2,941 respectively.

The price of gold in the international market increased by $40 to $2,751 from $2,711, the Association reported.

Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.

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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.