ISLAMABAD: The price of 24 karat per tola gold witnessed a decrease of Rs3,400 and was sold at Rs345,800 on Wednesday against its sale at Rs349,200 on the last trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
The prices of 10 grams of 24 karat also decreased by Rs2,915 to Rs296,467 from Rs299,382 whereas that of 10 gram 22 Karat went down to Rs271,771 from Rs274,443.
The rates of per tola and ten gram silver went down by Rs70 and Rs6o to Rs3,427 and Rs2,938 respectively.
The price of gold in the international market decreased by $34 to $3,276 from $3,310 whereas silver rates went down by $0.70 to $32.27, the Association reported.
Read More: Gold rates Today in Saudi Arabia – 30 April 2025
Meanwhile, the 24-karat gold rates in Saudi Arabia recorded minor dip and were recorded at 4,653 SAR per tola on Wednesday, April 30, 2025.
As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 3,993, with an ounce of gold costing 12,421 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 April 30, 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.
Meanwhile, after a slight decline, the Saudi Riyal (SAR) was recorded at Rs74.91 against the Pakistani Rupee (PKR) in the open market on Wednesday, April 30, 2025.
The Saudi Riyal’s selling rate was noted at Rs75.45.
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