Gold rates hit record high in Pakistan

ISLAMABAD: The rate of 24 karat per tola gold in Pakistan increased by Rs.1,800 and was traded at Rs.320,800 on Thursday as compared to its sale at Rs319,000 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.

The prices of 10 grams of 24 karat also increased by Rs.1,543 to Rs 275,034 from Rs 273,491 whereas the prices of 10 gram 22 karat gold also went up by Rs.1,423 to Rs.252,123 from Rs.250,700.

The rates of per tola silver decreased by Rs.31 to Rs.3,524 whereas that to ten gram silver went down by Rs.26 to Rs.3,021.

The rate of gold in the international market increased by $12 to $3,050 from $3,038    whereas price of silver went down by $0.29 to $33.50, the Association reported.

On the other hand, the 24-karat gold rates in Saudi Arabia reached 4,259 Saudi Riyal (SAR) per tola on Thursday, March 20, 2025.

According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,656 . Additionally, the price for an ounce of gold is Saudi Riyal 11,370.

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 10:00 am March 20, 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.