As reported by All Sindh Sarafa Jewelers Association, the price of 24 carat gold rose by Rs 1,000 and was sold at Rs 277,000 on Wednesday January 08, 2025 as against Rs 276,000 on the previous business day.
The price of 10 grams of 24 karat gold also increased by Rs 858 from Rs 236,625 to Rs 237,483 while the price of 10 grams of 22 karat gold also increased from Rs 216,907 to Rs 217,693.
Silver prices per tola and 10 grams remained stable at 3,350 rupees. 2,872.08 respectively.
According to the association, the price of gold in the international market rose by $10 to $2,652 from $2,642.
Earlier, the price of 24 carat gold in Saudi Arabia reached 3,725 Saudi Riyals (SAR) per tola on Wednesday, January 8, 2025.
It is important to note that gold prices are subject to fluctuations in the global market, including those specific to Saudi Arabia, last updated on January 8, 2025 at 12:24 AM.
Gold, a highly valued precious metal, has maintained its importance for centuries and plays an important role in the global economy.
Its value comes from its scarcity, durability, and broad appeal. Often regarded as a safe haven asset, gold is used to preserve wealth during times of economic instability.
Central banks and investors hold gold reserves to diversify their investment portfolios and protect against inflation and currency value fluctuations.
Gold’s inherent allure and limited availability make it a desirable material for jewelry and luxury goods. Demand for gold jewelery drives economic activity in the mining, manufacturing and retail sectors.