ISLAMABAD: The rate of 24 karat per tola gold increased by Rs.4,700 and was traded at Rs.314,000 on Friday as compared to its sale at Rs309,300 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
The rates of 10 grams of 24 karat also increased by Rs.4,030 to Rs 269,204 from Rs 265,174 whereas the prices of 10 gram 22 karat gold also went up by Rs.3,694 to Rs.246,779 from Rs 243,085 respectively.
The rates of per tola silver increased by Rs.90 to Rs.3,530 whereas that of and ten gram silver went up by Rs.77 to Rs.3,026 respectively.
The price of gold in the international market increased by $46 to $2,988 from $2,942 whereas that of silver went up by Rs.0.86 to Rs33.86, the Association reported.
On the other hand, the 24-karat gold rates in Saudi Arabia recorded an increase and stood at 4,182 Saudi Riyal (SAR) per tola on Friday, March 14, 2025.
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According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,589. Additionally, the price for an ounce of gold is Saudi Riyal 11,165.
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 14, 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.