ISLAMABAD: The rates of 24 karat per tola gold witnessed a decrease of Rs.2,300 on Wednesday and was sold at Rs.341,900 against its sale at Rs.344,200 on the previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
The rates of 10 grams of 24 karat also decreased by Rs.1,972 to Rs.293,124 from Rs.295,096 whereas the price of 10 grams of 22 Karat decreased by Rs.1,808 to Rs.268,706 from Rs.270,514.
The rates of per tola silver and ten gram silver remained unchanged and closed at Rs.3,482 and Rs.2,985 respectively.
The rate of gold in the international market also decreased by $23 to $3,235 from $3,258 whereas that of silver remained stagnant at $33.00, the Association reported.
On the other hand, the 24-karat gold rates in Saudi Arabia witnessed marginal dip and were recorded at 4,571 SAR per tola on Wednesday, May 14, 2025.
Read more: Saudi Riyal to Pakistani Rupee Rate; May 14, 2025
As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 3,923, with an ounce of gold costing 12,202 Saudi Riyal.
Gold prices, including those in Saudi Arabia, continue to be shaped by global market dynamics, with the latest update recorded at 10:00 a.m. on May 14, 2025.
For centuries, gold has held a prestigious position in the world economy, prized for its rarity, durability, and enduring appeal. It is widely regarded as a safe-haven asset, offering financial protection during periods of economic uncertainty.
Both investors and central banks maintain gold reserves to diversify holdings and safeguard against inflation and currency fluctuations.
Several factors influence the value of gold. Geopolitical tensions and fears of economic downturns often trigger a surge in demand due to gold’s reputation as a secure investment.
Moreover, as a non-interest-bearing asset, gold tends to perform well when interest rates decline, while rising borrowing costs typically weigh on its price.
