ISLAMABAD: The rate of 24 karat per tola gold increased by Rs.8,600 and was traded at all time high at Rs.348,000 on Wednesday as compared to its sale at Rs339,400 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
The rates of 10 grams of 24 karat also increased by Rs.7,373 to Rs 298,353 from Rs.290,980 whereas the prices of 10 gram 22 karat gold also went up to Rs.273,500 from Rs.266,741, respectively.
The rates of per tola silver increased by Rs. 63 to Rs. 3,460 and ten gram silver increased by Rs. 54 to Rs.2,966.
The rate of gold in the international market increased by $86 to $3,310 from $3,224 whereas that of silver also increased by $0.63 and at $32.98, the Association reported.
On the other hand, the 24-karat gold rates in Saudi Arabia remained stable at 4,493 Saudi Riyal (SAR) per tola on Wednesday, 16 April 2025.
According to Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently being sold at SAR 3,857, while the cost of an ounce of gold is 11,995 Saudi Riyal.
Gold rates are influenced by global market trends, including those in Saudi Arabia, with the latest update noted at 10:00 am on April 16, 2025.
For centuries, gold has remained a prized precious metal, holding a crucial place in the global economy.
Its worth comes from its rarity, resilience, and universal allure. Often seen as a safe-haven asset, gold is used to safeguard wealth during economic uncertainty.
Read more: Saudi Riyal to Pakistani Rupee Rate; April 15, 2025
Investors and central banks hold gold reserves to diversify portfolios and shield against inflation and currency volatility.
Gold’s price is shaped by numerous factors. Geopolitical tensions or concerns about a severe economic downturn can rapidly drive up gold prices due to its safe-haven appeal.
As a non-yielding asset, gold often rises when interest rates fall, while higher borrowing costs tend to pressure the yellow metal downward.
Meanwhile, the Saudi Riyal (SAR) registered a modest rise against the Pakistani Rupee (PKR), reaching Rs74.77 in the open market on Tuesday, April 16, 2025.
The Saudi Riyal’s selling rate was noted at Rs75.32.
