The price of 24 karat per tola gold witnessed an increase of Rs.3,100 and was sold at Rs 280,500 on Wednesday against its sale at Rs 277,400 on previous trading day, All Sindh Sarafa Jewellers Association reported.
The price of 10 grams of 24 karat gold also increased by Rs.2,658 to Rs.240,484 from Rs 237,826 whereas that of 10 gram 22 karat also went up to Rs.220,443 from Rs 218,007.
Per tola silver increased by Rs.50 to Rs 3,450 whereas that of ten gram silver went up by Rs.42.86 to Rs.2,957.81.
The price of gold in the international market increased by $31 to $2,693 from $2,662, the Association reported.
On the other hand, the rate of 24-karat gold in Saudi Arabia surged to 3,782 Saudi Riyals (SAR) per tola on Wednesday (Today).
As per reports, 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 09:31 am on December 11, 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.
