Gold rates continue to surge in Pakistan

The gold rates of 24 karat per tola increased by Rs700 and was sold at Rs307,00 on Wednesday, All Pakistan Sarafa Gems and Jewelers Association reported.

The price of 10 grams of 24 karat gold also increased by Rs601 to Rs263,203.

The price of gold in the international market increased by $5 to $2,921 whereas the prices of silver in the international market increased by $0.39 to $31.80, the Association reported.

Meanwhile, the 24-karat gold rates in Saudi Arabia surged and stood at 4,095 Saudi Riyal (SAR) per tola on Wednesday, March 5, 2025.

According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,515. Additionally, the price for an ounce of gold is SAR 10,932.

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.