Gold prices in Saudi Arabia today, Saturday, October 3, 2020

Gold prices in Saudi Arabia today, Saturday, October 3, 2020
Gold prices in Saudi Arabia today, Saturday, October 3, 2020
Gold prices stabilized in Saudi Arabia today, Saturday, in conjunction with the stability of the yellow metal prices globally, after the dollar fell to the bottom of more than a week against other currencies.

A gram of 24-carat gold settled at 229.35 riyals (61.14 dollars), and the price of a 21-carat gold gram, the best-selling in the Kingdom, was about 200.68 riyals ($ 53.50).

The price of a gram of 18 carat gold is approximately 172.01 riyals ($ 45.86).

Gold is low cost

The price of a gram of 14 carat gold was about 133.79 riyals (35.67 dollars), and the price of a gram of 12 carat gold came at 114.67 riyals (30.57 dollars).

The price of an ounce and a pound of gold

The price of an ounce of gold (an ounce) in the Saudi market today, Saturday, was about 7133 riyals (1,902 dollars).

As for the gold pound (8 grams of 21 carat), it was recorded 1,605 riyals (428 dollars).

Gold price worldwide

Gold clung to the level of $ 1900 in volatile trading on Friday, as the rise of the dollar limited the gains, but the precious metal was still on track to achieve its largest weekly gain in 8 weeks as risk appetite was affected by US President Donald ’s COVID-19 infection.

Spot gold fell 0.2% to $ 1900.40 an ounce and prices are on the way to a 2.2% increase this week, and is on track to achieve the largest weekly rise in percentage since early August.

US gold futures settled, down 0.5%, at $ 1,907.60.

Gold had risen to a peak of more than a week after Trump said on Twitter that he and his wife Melania had contracted the Coronavirus, affecting Wall Street.

“Gold will likely remain in a limited range in the short term. The market will be waiting for the weekend and following the news,” said Tae Wong, director of base and precious metals derivatives trading at BMO.

The dollar also benefited from the appetite for safe havens, which limited the rise of gold.

Attention is also turning towards a US agreement on aid linked to the Coronavirus.

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