Gold prices increased in Saudi Arabia during early trading on Sunday morning, slightly, compared to Saturday’s trading.
According to merchants, it was average The price of a gram of gold Caliber 24 in the Kingdom of 229.39 riyals ($ 61.17), compared to 229.2 riyals ($ 61.12), on Saturday.
The price of a gram of 21 carat gold, the best selling, was 200.72 riyals ($ 53.52), compared to 200.55 riyals ($ 53.48) yesterday.
As for the price of a gram of 18 carat gold, it was recorded at 172.05 riyals ($ 45.88).
The price of a gram of 14 carat gold was about 133.81 riyals ($ 35.82).
The price of an ounce and a pound of gold
On the Saudi market, the price of an ounce was 7,134.75 riyals (1,902 dollars).
As for the price of the pound of gold in the Kingdom (8 grams of 21 carat), it was recorded at 1,606.37 riyals ($ 428.18).
Globally, gold stabilized in the last trading week ending, as expectations of an eventual US stimulus package were offset by the pressures imposed by the strong dollar.
There was little change in gold in immediate trading at 1,903.36 dollars an ounce (an ounce) by 0631 GMT, after it had fallen more than one percent in the previous session. US gold futures rose 0.01 percent to $ 1,905.80.
“Fears about the rise in COVID-19 infections and the increased likelihood of a Democratic victory in the US election, which is likely to result in greater stimulus and a weaker dollar, are helping gold to rise,” said Cameron Alexander, director of commodity research at Refinitiv Metals Research.
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