The 24-karat gold rates in Saudi Arabia recorded minor gain and were recorded at 4,671 SAR per tola on Tuesday, April 29, 2025.
As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 4,009, with an ounce of gold costing 12,4368 Saudi Riyal.
Gold prices, including those in Saudi Arabia, continue to be shaped by global market dynamics, with the latest update recorded at 10:00 a.m. on April 29, 2025.
For centuries, gold has held a prestigious position in the world economy, prized for its rarity, durability, and enduring appeal. It is widely regarded as a safe-haven asset, offering financial protection during periods of economic uncertainty.
Both investors and central banks maintain gold reserves to diversify holdings and safeguard against inflation and currency fluctuations.
Read more: Gold dips as trade anxiety eases
Several factors influence the value of gold. Geopolitical tensions and fears of economic downturns often trigger a surge in demand due to gold’s reputation as a secure investment.
Moreover, as a non-interest-bearing asset, gold tends to perform well when interest rates decline, while rising borrowing costs typically weigh on its price.
Meanwhile, the Saudi Riyal (SAR) remained against the Pakistani Rupee (PKR) at Rs74.92 in the open market on Tuesday, April 29, 2025.
The Saudi Riyal’s selling rate was noted at Rs75.46.
