Gold rates in Saudi Arabia today – 29 November 2024

LAHORE: The price of 24-karat gold per tola in Saudi Arabia experienced a surged-on Friday, November 29, settling at 3,711 Saudi Riyals (SAR).

Additionally, according to forex.pk, the price for 10 grams of 24-karat gold is currently SAR 3,185 while the price per ounce of gold is set at SAR 9,907.

It is important to note that gold prices fluctuate globally, including in Saudi Arabia, and there may be variations in this information as the prices were last updated at 10:24 AM on November 29, 2024.

Whereas the price of 24-karat gold per tola in Saudi Arabia experienced a slight decrease on Thursday, November 28, settling at 3,693 Saudi Riyals (SAR).

Additionally, according to forex.pk, the price for 10 grams of 24-karat gold is currently SAR 3,169 while the price per ounce of gold is set at SAR 9,858.

Also read: Gold rates continue to go up in Pakistan

Gold, a timeless asset shaping economies

Gold, a precious metal prized for centuries, continues to play a significant role in the global economy. Its value lies in its rarity, durability, and universal appeal. Gold is often seen as a safe haven asset, preserving wealth during economic uncertainties.

Central banks and investors hold gold reserves to diversify portfolios and hedge against inflation and currency fluctuations.

It’s beauty and rarity make it a precious material for jewellery and luxury goods. The demand for gold jewellery drives economic activity in mining, manufacturing, and retail sectors.

While the gold standard has been largely abandoned, gold still influences monetary policy and currency exchange rates. Central banks may use gold reserves to support their currencies and maintain economic stability. In conclusion, gold plays a pivotal role in the economy.