LAHORE – The price of per tola 24-karat gold in Saudi Arabia on Wednesday (March 04) increased significantly as it stood at 4,062 Saudi Riyal (SAR), according to forex.pk.
Furthermore, the 10 grams of 24-k gold is being sold for SAR 3,486 in the kingdom while the per ounce gold price stands at SAR 10,844.
Note: The gold price across the world, including Saudi Arabia, changes constantly and there will be some differences in this post as the prices were updated at 09:00 am March 05, 2025.
The latest spike in gold prices comes after people rushed to safer investment following trade war ensued after US President Donald Trump announced tariff on China, Canada and Mexico.
Saudi Riyal exchange rate against Pakistani rupee in open market stood at Rs74.45. The selling rate of the Riyal also surged as it is being sold by various exchange companies for Rs75 on the third day of new business week.
Earlier, Pakistan and Saudi Arabia signed an agreement for deferred payment for oil import worth $1.2 billion for one year.
Prime Minister Muhammad Shehbaz Sharif and Chief Executive Officer of Saudi Fund for Development (SFD) Sultan Abdulrahman Al-Marshad witnessed the signing of agreement.
The prime minister welcomed the signing of Oil Import Financing Facility according to which Pakistan will receive the oil on deferred payment.
This project will strengthen Pakistan’s economic resilience by securing a stable supply of petroleum products while reducing immediate fiscal burdens.
