The 24-karat gold rates in Saudi Arabia rose significantly on Tuesday, May 06, 2025, reaching SAR 4,653 per tola, up from SAR 4,552 recorded a day earlier.
According to data from Forex.pk, 10 grams of 24-karat gold is now valued at SAR 3,993, while the price of one ounce stands at SAR 12,421. The latest market update was recorded at 10:00 a.m. local time.
Gold prices in Saudi Arabia, like elsewhere, are heavily influenced by global market conditions. The yellow metal continues to be viewed as a safe-haven asset, offering financial security during periods of geopolitical instability and economic uncertainty.
Valued for its rarity, resilience, and universal appeal, gold remains a key component of investment strategies for both individual investors and central banks.
It plays a crucial role in diversifying portfolios and hedging against inflation and currency volatility.
Read more: Saudi Riyal to Pakistani Rupee Rate; May 06, 2025
As a non-yielding asset, gold often sees price increases when interest rates decline, making it more attractive. Conversely, higher borrowing costs tend to suppress its demand.
On the currency front, the Saudi Riyal (SAR) saw a slight gain against the Pakistani Rupee (PKR) in the open market on Tuesday.
The buying rate was recorded at Rs74.94, while the selling rate stood at Rs75.48.
