The price of 24 karat per tola gold witnessed a sharp rise of Rs11,700 per tola and was traded at Rs331,700 on Monday as compared to Rs320,000 on Saturday, All Pakistan Sarafa Gems and Jewelers Association reported.
The price of 10 grams of 24 karat also witnessed rise and was recorded at Rs284,284.
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.
As a yield-less asset, gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal.
Meanwhile, the 24-karat gold rates in Saudi Arabia were recorded at 4,267 Saudi Riyal (SAR) per tola on Monday, April 07, 2025.
According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,662. Additionally, the price for an ounce of gold is 11,392 in Saudi Riyal.
