ISLAMABAD: The price of 24 karat per tola gold increased further by Rs.2,300 and was sold at Rs 282,800 on Thursday against its sale at Rs 280,500 on previous trading day, All Sindh Sarafa Jewellers Association reported.
The price of 10 grams of 24 karat gold also increased by Rs.1,971 to Rs.242,455 from Rs 240,484 whereas that of 10 gram 22 karat also went up to Rs.222,250 from Rs 220,443.
The prices of Per tola and ten gram silver remained constant at Rs 3,450 and Rs.2,957.81 respectively.
The price of gold in the international market increased by $23 to $2,716 from $2,693, the Association reported.
On the other hand, the rate of 24-karat gold in Saudi Arabia stands at 3,782 Saudi Riyals (SAR) per tola on Thursday, December 12, 2024.
As reported by forex.pk, the price for 10 grams of 24-karat gold in Saudi Arabia is SAR 3,246. Furthermore, the price for an ounce of gold is noted to be SAR 10,095.
It is crucial to recognize that gold prices are influenced by global fluctuations, including those occurring within Saudi Arabia, and the figures provided were last updated at 09:43 am on December 12, 2024.
This adjustment mirrors the prevailing trends in the international gold market, which are affected by a range of factors.
Gold, recognized as a highly esteemed precious metal, has held significant value for centuries and is integral to the global economy. Its worth is derived from its rarity, resilience, and universal attraction. Often viewed as a safe-haven asset, gold is utilized to safeguard wealth during periods of economic uncertainty.
Central banks and investors hold gold reserves to enhance the diversity of their investment portfolios and to shield against inflation and fluctuations in currency value.
The intrinsic appeal and finite supply of gold make it a highly desired material for jewelry and luxury goods. The demand for gold jewelry fosters economic activity across the mining, manufacturing, and retail industries.
