Gold rates in Pakistan today have seen a significant drop on Thursday, May 8, following the international market.
According to the All-Pakistan Gems and Jewelers Association, the price of gold per tola has decreased by PKR 4,200, bringing it down to PKR 352,700.
Similarly, the price of 10 grams of gold has fallen by PKR 3,601, now standing at PKR 302,383.
On the global front, gold rates today witnessed a decline of USD 42, with the precious metal now trading at USD 3,343 per ounce.
Experts attribute this price reduction to fluctuations in the global market, impacting domestic rates accordingly.
Read More: Gold rates Today in Saudi Arabia – 08 May 2025
The fluctuation of gold rates today continues in the international market, due to which the 24-karat gold rates in Saudi Arabia were recorded at 4,756 per tola on Thursday, May 08, 2025
The per tola gold rate on Monday was 4,552 SAR.
As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 4,082, with an ounce of gold costing 12,697 Saudi Riyal.
The latest market update was recorded at 10:00 a.m. local time.
Gold rates in Saudi Arabia, like elsewhere, are heavily influenced by global market conditions. The yellow metal continues to be viewed as a safe-haven asset, offering financial security during periods of geopolitical instability and economic uncertainty.
Valued for its rarity, resilience, and universal appeal, gold remains a key component of investment strategies for both individual investors and central banks.
It plays a crucial role in diversifying portfolios and hedging against inflation and currency volatility.
As a non-yielding asset, gold often sees price increases when interest rates decline, making it more attractive. Conversely, higher borrowing costs tend to suppress its demand.
Meanwhile, the Saudi Riyal (SAR), after a minor gain, was recorded at Rs75.03 against the Pakistani Rupee (PKR) in the open market on Thursday, May 08, 2025.
The Saudi Riyal’s selling rate was noted at Rs75.13.
