Gold Surges in Pakistan & Saudi Arabia
The rates of 10 grams of 24 karat also increased by Rs.8,573 to Rs 290,466 from Rs. 281,893 whereas the prices of 10 gram 22 karat gold also went up to Rs.266,261 from Rs 258,411, respectively.
The rate of per tola and ten-gram silver remained constant at Rs3,234 and Rs2,772, respectively.
The rate of gold in the international market increased by $100 to $3,218 from $3,118, whereas silver increased to $31.30, the Association reported.
On the other hand, the 24-karat gold rates in Saudi Arabia recorded a massive surge and were recorded at 4,335 Saudi Riyal (SAR) per tola on Friday.
The rate of the yellow metal on Thursday was 4,217 Saudi Riyal (SAR) per tola.
According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,721. Additionally, the price for an ounce of gold is 11,573 Saudi Riyal.
Gold rates are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at 10:00 am April 11, 2025.
Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.
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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 a higher cost of money usually weighs down on the yellow metal.
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