Gold rates in Saudi Arabia today – 30 November 2024

LAHORE: The price of 24-karat gold per tola in Saudi Arabia experienced a surged-on Saturday, November 30, settling at 3,740 Saudi Riyals (SAR).

Additionally, according to forex.pk, the price for 10 grams of 24-karat gold is currently SAR 3,209 while the price per ounce of gold is set at SAR 9,983.

It is essential to recognize that gold prices vary on a global scale, including within Saudi Arabia, and there may be discrepancies in this information as the last update occurred at 10:42 AM on November 30, 2024.

Moreover, the price of 24-karat gold per tola in Saudi Arabia experienced on Friday, November 29 at 3,711 Saudi Riyals (SAR).

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

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.

Also read: Omani Rial to Pakistani rupee rate on 30 November 2024

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.