Gold rates in Saudi Arabia – January 29, 2025

The 24-karat gold rates in Saudi Arabia reached 3,876 Saudi Riyal (SAR) per tola on Wednesday, January 29, 2025.

According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,327. Additionally, the price for an ounce of gold is SAR 10,347.

It is important to note that gold rates are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at 09:46 am January 29, 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 rates 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.

Meanwhile, the exchange rate of the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) stood at 74.6 in the open market on Wednesday, January 29, 2025.

The Saudi Riyal strengthened by three paisas against the Pakistani Rupee (PKR) on Wednesday. As per details, the selling price of the Saudi Riyal was recorded at Rs74.6.