The rate of 24-karat gold in Saudi Arabia remained unchanged at 3,675 Saudi Riyals (SAR) per tola on Thursday, December 26, 2024.
As reported by Forex.pk, the price for 10 grams of 24-karat gold in Saudi Arabia is SAR 3,154. Furthermore, the price for an ounce of gold is noted at SAR 9,810.
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 10:12 am on December 26, 2024.
In Pakistan the price of 24 karat per tola gold increased by Rs.1,400 and was sold at Rs.274,000 on Thursday against its sale at Rs 272,600 the previous day.
The price of 10 grams of 24 karat gold also increased by Rs.1,200 to Rs.234,911 from Rs. 233,711 whereas that of 10 gram 22 karat gold went up to Rs.215,335 from Rs 214,235, All Sindh Sarafa Jewellers Association reported.
The prices of per tola and ten gram silver remained constant at Rs 3,350 and Rs. Rs 2,872.08 respectively.
The price of gold in the international market increased by $14 to $2,628 from $2,614, the Association reported.
This modification reflects the current trends in the global gold market, which are influenced by various factors, including economic conditions, geopolitical events, and changes in investor sentiment.
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.
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The intrinsic appeal and finite supply of gold make it a highly desired material for jewellery and luxury goods. The demand for gold jewellery fosters economic activity across the mining, manufacturing, and retail industries.
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