The rate of 24-karat gold in Saudi Arabia decrease to 3,683 Saudi Riyals (SAR) per tola on Tuesday, December 31, 2024.
As reported by Forex.pk, the price for 10 grams of 24-karat gold in Saudi Arabia is SAR 3,161. Furthermore, the price for an ounce of gold is SAR 9,832.
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 11:05 am on December 31, 2024.
Read more: Gold prices dip as markets await fresh catalysts
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 jewellery and luxury goods. The demand for gold jewellery fosters economic activity across the mining, manufacturing, and retail industries.
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