• Per tola price of 24-karat gold in Saudi Arabia dropped to 3,723 SAR.
• 10 grams of gold are sold for SAR 3,195, while the per ounce price is at SAR 9,938.
• Gold prices fluctuate frequently worldwide, including in Saudi Arabia.

LAHORE: On Monday, December 2, the per tola price of 24-karat gold in Saudi Arabia dropped to 3,723 Saudi Riyals (SAR). According to data, 10 grams of 24-karat gold are being sold for SAR 3,195, while the per ounce price stands at SAR 9,938.

It is important to note that gold prices fluctuate frequently worldwide, including in Saudi Arabia. The rates mentioned were updated as of 10:42 am on December 2, 2024.

On Saturday, November 30, the price of 24-karat gold per tola in Saudi Arabia had surged to SAR 3,740. Additionally, 10 grams of 24-karat gold were priced at SAR 3,209, and the per ounce rate was recorded at SAR 9,983.

Gold, treasured for its beauty and rarity, has been a valuable asset for centuries. Its enduring appeal stems from its scarcity, durability, and role as a safe haven during economic uncertainties.

Central banks and investors maintain gold reserves to diversify portfolios and safeguard against inflation and currency fluctuations. In addition to its monetary significance, gold is highly sought after in the jewellery and luxury goods sectors, driving economic activity in mining, manufacturing, and retail industries.

Although the gold standard has been largely abandoned, gold continues to impact monetary policies and exchange rates. Central banks often use their gold reserves to stabilize currencies and bolster economic stability. In essence, gold remains a cornerstone of the global economy.

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