• 24-karat gold price: 3,697 Saudi Riyals per tola.
• 10 grams of gold: SAR 3,173, per-ounce rate: SAR 9,869.
• It is important to note that gold prices fluctuate globally, including in Saudi Arabia.

LAHORE: The price of 24-karat gold in Saudi Arabia on Wednesday, 27 November 2024, stands at 3,697 Saudi Riyals (SAR) per tola.

According to forex.pk, the price for 10 grams of 24-karat gold is currently SAR 3,173, while the per-ounce rate is SAR 9,869. It’s worth noting that gold prices are subject to global fluctuations and may vary. The rates were last updated at 10:27 AM on 27 November 2024.

Gold has remained a prized commodity for centuries due to its rarity, durability, and universal appeal. It is regarded as a safe-haven asset, especially during economic uncertainties, and continues to influence global markets.

Investors and central banks maintain gold reserves to diversify portfolios and hedge against inflation and currency volatility. Its enduring beauty and scarcity also make it a sought-after material for jewellery and luxury goods, fueling economic activity across mining, manufacturing, and retail sectors.

Though the gold standard is no longer used, gold still impacts monetary policy and currency exchange rates. Central banks often rely on gold reserves to support currencies and ensure economic stability.

In summary, gold’s importance extends far beyond its monetary value, playing a crucial role in the global economy.

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