The Saudi gold market is one of the largest markets in the region that consumes the yellow metal, and it ranks first in the Arab world and third in the world after the United States and India.
The average price of a gram of 24 carat gold was about 231 riyals (61.60 dollars), compared to 229.13 riyals (61.09 dollars) on Monday, and the prices before calculating the “workmanship” of the seller.
The price of a gram of 21 carat gold was about 202.13 riyals ($ 53.90), compared to about 200.49 riyals ($ 53.45), and a gram of gold (18 carat) in Saudi Arabia reached 173.25 ($ 46.20), compared to 171.85 riyals ($ 45.82) in Monday’s trading. .
The price of an ounce and a pound of gold
The price of an ounce of gold (an ounce) in Saudi Arabia reached 7 thousand and 185 riyals (1916 dollars) for sale, and 7 thousand and 188 riyals (1917 dollars) for sale, and the gold pound rose (8 grams of 21 carat) and recorded 1617.03 riyals (about 431.21 dollars).
On Monday, the Saudis began to deal with the new five-riyal bill, made of a polymer, plastic material, along with the five-riyal denomination currently in circulation, as an official legal currency.
The preliminary budget data of the Kingdom of Saudi Arabia for the next year 2021 confirmed that the Kingdom’s financial expenditures during the next year will decline to less than one trillion riyals for the first time in 3 years.
Gold prices fell today, Tuesday, while stocks rose after US President Donald Trump left the hospital after being treated for the Corona virus, but the weakness of the dollar limited the gains.
And gold fell in the spot market 0.1 percent to 1910.68 dollars an ounce by 0512 GMT. It had recorded 1918.36 dollars yesterday, its highest level since 22 September.
And gold in futures trading in the United States fell 0.2 percent to 1917 dollars.
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