According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,476. Additionally, the price for an ounce of gold is SAR 10,810.
It is important to note that gold rates are subject to global market fluctuations, including those specific to Saudi Arabia, with the last update recorded at 09:00 am February 17, 2025.
Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.
Its value stems from its scarcity, durability, and widespread appeal. Frequently regarded as a safe-haven asset, gold is employed to preserve wealth during times of economic instability.
Saudi Riyal to Pakistani rupee rate; February 17, 2025
Central banks and investors maintain gold reserves to diversify their investment portfolios and protect against inflation and currency value fluctuations.
The price of gold depends on a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make gold rates escalate due to its safe-haven status.
As a yield-less asset, gold tends to rise with lower interest rates, while the higher cost of money usually weighs down on the yellow metal.
Meanwhile, the exchange rate of the Saudi Riyal (SAR) against the Pakistani Rupee (PKR) remained unchanged at Rs74.20 in the open market on Monday, February 17, 2025.
The selling rate of the Riyal also remained constant as it is being sold for Rs74.75 on the first day of the business week.
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