Gold prices increase in Pakistan

KARACHI: The price of 24 karat per tola gold increased by Rs600 and was traded at Rs318,600 on Monday as compared to its sale at Rs318,000 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.

The prices of 10 grams of 24 karat also increased by Rs515 to Rs273,148 from Rs272,633.

The prices of 10 gram 22 karat gold also went up by Rs472 to Rs250,394 from Rs249,922 respectively.

The prices of per tola and ten gram silver remained constant at Rs3,475 and Rs2,979 respectively.

The price of gold in the international market increased by $5 to $3,027 from $3,022 whereas that of silver remained unchanged at $33.10, the Association reported.

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.

Read more: Saudi Riyal to Pakistani rupee rate; March 24, 2025

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.

Meanwhile, Saudi Riyal (SAR) remained stable against the Pakistani Rupee (PKR) at Rs74.71 in the open market on Monday, March 24, 2025.

The selling rate of the Saudi Riyal was recorded at Rs74.25.

The official currency of Saudi Arabia is abbreviated as SAR, or SR. One Riyal is subdivided into 100 halalas.