RIYADH: The price of 24-karat gold in Saudi Arabia stood at 3,893 Saudi Riyal (SAR) per tola on Monday, January 28, 2025.
According to data from Forex.pk, 10 grams of 24-karat gold were being sold for SAR 3,341 in the Kingdom. Meanwhile, the price of one ounce of gold reached SAR 10,393.
It is important to remember that gold prices are influenced by global market fluctuations, as well as factors specific to Saudi Arabia. The last update was recorded at 09:46 am on January 28, 2025.
Gold, a highly prized precious metal, has held significant value for centuries and continues to play a key role in the global economy.
Its value is derived from its limited supply, durability, and universal appeal. Often considered a safe-haven asset, gold is used to safeguard wealth during periods of economic uncertainty.
Central banks and investors hold gold reserves to diversify their portfolios and hedge against inflation and currency fluctuations.
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The price of gold is influenced by a multitude of factors. Geopolitical instability or concerns about a significant recession can quickly drive up the price of gold due to its status as a safe haven.
As an asset that does not generate yield, gold tends to appreciate in value when interest rates are low. Conversely, higher interest rates typically put downward pressure on the price of the yellow metal.
Meanwhile, the exchange rate of the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) was recorded at 74.31 in the open market on January 28, 2025.
The Saudi Riyal remained unchanged against the Pakistani Rupee (PKR) on Monday. Details indicate that the selling price of the Saudi Riyal also remained at Rs74.51.
