Gold rates in Saudi Arabia; January 21, 2025

RIYADH: The rate of 24-karat gold in Saudi Arabia increased to 3,838 Saudi Riyal (SAR) per tola on Tuesday, January 21, 2025.

According to details from Forex.pk, the price for 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,290. Additionally, the price for an ounce of gold is SAR 10,235.

It is important to note that gold prices are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at 08:30 am January 21, 2025.

Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.

Its value stems from its scarcity, durability, and widespread appeal. Frequently regarded as a safe-haven asset, gold is employed to preserve wealth during times of economic instability.

Central banks and investors maintain gold reserves to diversify their investment portfolios and protect against inflation and currency value fluctuations.

The price of gold depends on a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status.

As a yield-less asset, gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal.

Read More: Gold rates go up in Pakistan

Meanwhile, in the international market the gold prices surged to over a two-month high on Tuesday as the U.S. dollar weakened, with the precious metal also supported by buying amid uncertainty surrounding Donald Trump’s trade policies.

Spot gold climbed 0.4% to $2,719.52 per ounce by 1059 GMT, reaching its highest level since Nov. 6 and nearing the all-time high of $2,790.15 set in October.

The dollar index, slipped 0.6% versus major peers, holding close to a 2-week low hit in the previous session, making bullion more attractive for other currency holders.

U.S. gold futures were 0.6% lower at $2,732.60, narrowing the premium over spot rates, after U.S. President Trump did not immediately impose tariffs after his inauguration on Monday as expected.