Gold rates decrease in Pakistan

ISLAMABAD: The rate of 24 karat per tola gold decreased by Rs500 and was sold at Rs 300,000 on Saturday against its sale at Rs300,500 on the previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.

The price of 10 grams of 24 karat gold also decreased by Rs438 to Rs 257,201 from Rs257,639. The rates of per tola silver declined by Rs10 to Rs3,240.

The price of gold in the international market decreased by $6 to $2,857 from $2,863.

Meanwhile, the 24-karat gold rates in Saudi Arabia were recorded at 4,042 Saudi Riyal (SAR) per tola on Saturday, March 1, 2025.

According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,469. Additionally, the price for an ounce of gold is SAR 10,790.

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.