The rate of 24-karat per tola gold decreased by Rs3,000 and was sold at Rs304,000 on Thursday against its sale at Rs307,000 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.
The price of 10 grams of 24 karat gold also decreased by Rs2,571 to Rs260,630 from Rs263,203 whereas that of 10 gram 22 karat went down by Rs2,359 to Rs238,919 from Rs241,278.
The prices of per tola and ten gram silver remained constant at Rs3,369 and Rs2,888 respectively.
The price of gold in the international market decreased by $28 to $2,893 from $2,921 whereas the prices of silver in international market remained constant at $32.32, the Association reported.
Meanwhile, the 24-karat gold rates in Saudi Arabia surged and stood at 4,107 Saudi Riyal (SAR) per tola on March 6, 2025.
According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,525. Additionally, the price for an ounce of gold is SAR 10,964.
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.
The price of gold depends on a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make gold rates escalate due to its safe-haven status.
