Pakistan(National Times)- The rate of 24 karat per tola gold witnessed an increase of Rs7,800 and was sold at Rs350,000 on Monday against its sale at Rs342,200 on the last trading day, All Pakistan Sarafa Gems and Jewelers Association reported. The rates of 10 grams of 24-karat gold also increased by Rs6,687 to Rs300,068 from Rs293,381. Silver rates rose by Rs43, with new price of per tola silver now at Rs3,425. The price of gold in the international market increased by $76 to $3,316 from $3,240, the Association reported. Meanwhile, the fluctuation of gold prices continues in international market due to which the 24-karat gold rates in Saudi Arabia recorded were recorded at 4,552 SAR per tola on Monday, May 05, 2025. As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 3,907, with an ounce of gold costing 12,151 Saudi Riyal. Gold prices, including those in Saudi Arabia, continue to be shaped by global market dynamics, with the latest update recorded at 10:00 a.m. on May 05, 2025. For centuries, gold has held a prestigious position in the world economy, prized for its rarity, durability, and enduring appeal. It is widely regarded as a safe-haven asset, offering financial protection during periods of economic uncertainty. Both investors and central banks maintain gold reserves to diversify holdings and safeguard against inflation and currency fluctuations. Several factors influence the value of gold. Geopolitical tensions and fears of economic downturns often trigger a surge in demand due to gold’s reputation as a secure investment. Moreover, as a non-interest-bearing asset, gold tends to perform well when interest rates decline, while rising borrowing costs typically weigh on its price. Meanwhile, the Saudi Riyal (SAR) was recorded at Rs74.90 against the Pakistani Rupee (PKR) in the open market on Monday, May 05, 2025. The Saudi Riyal’s selling rate was noted at Rs75.44.