ISLAMABAD: The rate of 24 karat per tola gold decreased by Rs.900 and was sold at Rs 298,700 on Thursday against its sale at Rs 299,600 on previous trading day, All Sindh Sarafa Jewellers Association reported.
The price of 10 grams of 24 karat gold also decreased by Rs.772 to Rs.256,087 from Rs. 256,859 whereas that of 10 gram 22 karat came down to Rs.234,754 from Rs.235,454.
The rates of per tola silver decreased by Rs.23 to Rs3,327 whereas that of ten gram dipped by Rs20 to Rs.2,852.
The rate of gold in the international market also decreased by $9 to $2,859 from $2,868, the Association reported.
On the other hand, the 24-karat gold rates in Saudi Arabia reached 3,990 Saudi Riyal (SAR) per tola on Thursday, February 6, 2025.
According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,424 . Additionally, the price for an ounce of gold is SAR 10,651.
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 09:05 am February 06, 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.
