• 24-karat gold per tola in Saudi Arabia increased to 3,711 Saudi Riyals (SAR).
• 10 grams of gold are priced at SAR 3,185, while per ounce is set at SAR 9,907.
• It is important to note that gold prices fluctuate globally, including in Saudi Arabia.

LAHORE: The price of 24-karat gold per tola in Saudi Arabia rose on Friday, November 29, reaching 3,711 Saudi Riyals (SAR).

According to forex.pk, the price for 10 grams of 24-karat gold stands at SAR 3,185, while the price per ounce of gold is set at SAR 9,907. These prices were last updated at 10:24 AM on November 29, 2024.

In contrast, gold prices had witnessed a slight dip on Thursday, November 28. On that day, the price of 24-karat gold per tola was recorded at 3,693 SAR, with 10 grams priced at SAR 3,169 and the per-ounce rate at SAR 9,858.

Gold has long been a cornerstone of global economies, valued for its rarity, durability, and universal appeal. Renowned as a safe haven asset, it helps preserve wealth during periods of economic uncertainty.

Central banks and investors leverage gold reserves to diversify portfolios and protect against inflation and currency fluctuations. Its beauty and scarcity also make it a sought-after material for jewelry and luxury goods, driving significant economic activity in mining, manufacturing, and retail.

Although the gold standard is no longer in practice, gold continues to impact monetary policy and exchange rates. Central banks use gold reserves to stabilize currencies and maintain economic balance, reaffirming its pivotal role in the global economy.

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