The price of a gram of 24 carat gold fell to 224.49 riyals (59.86 dollars) compared to 224.60 riyals (59.88 dollars) yesterday.
The price per gram of 21 caliber, the best selling in the Kingdom, was 196.43 riyals (52.38 dollars), compared to 196.53 riyals (52.39 dollars) during yesterday morning trading.
The price of 18-carat gold fell to 168.37 riyals (44.90 dollars) compared to 168.46 riyals (44.91 dollars) yesterday.
The price of an ounce
The price of an ounce of gold was 6982.50 riyals (1861.48 dollars) compared to 6985 riyals (1862 dollars) yesterday.
The price of the pound of gold (8 grams of 21 carat) was about 1571.45 riyals (419.05 dollars) compared to 1572 riyals (419.15 dollars) yesterday.
Gold prices worldwide
Gold prices closed at the settlement of Friday’s trading – the last session of the week – after a volatile session on the decline, to record the yellow metal its biggest weekly loss since mid-March, losing $ 96 of its value.
The safe haven came under downward pressure from the strength of the US dollar, which took advantage of investors flocking to acquire it as a safe haven amid fears of a second wave of the epidemic.
The main dollar index, which follows the performance of the US paper against a basket of six major currencies, rose by 0.3% on Friday, to reach 94,653 points.
Upon settlement, the price of gold futures contracts for December delivery fell by 0.6%, equivalent to $ 10.60, to fall at $ 1866.30 an ounce.
In terms of weekly performance, the yellow metal recorded losses of about 4.9% ($ 95.80), the largest weekly decline since mid-March.
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