Gold prices in Saudi Arabia today, Friday, October 16, 2020

Gold prices in Saudi Arabia today, Friday, October 16, 2020
Gold prices in Saudi Arabia today, Friday, October 16, 2020
Gold prices stabilized in Saudi Arabia during early trading on Friday morning, amid a rise in gold prices globally after US President Donald renewed hopes for a stimulus package linked to the Coronavirus before the November 3 elections, but the rise of the dollar limited the metal’s gains.

The price of a gram of 24 carat gold was 229.69 riyals (61.23 dollars) compared to 227.99 riyals (60.80 dollars) on Thursday, and the price of a gram of 21 carat gold, the best-selling in the Kingdom, was about 200.98 (53.57 dollars) compared to 199.49 riyals (53.20 dollars). Yesterday, Thursday.

And about the price of a gram of 18-carat gold, the most popular in the region, it recorded 172.27 riyals ($ 45.92) during early trading on Friday morning, compared to 170.99 riyals ($ 45.60) yesterday.

Gold prices are low cost

The price of a gram of 16-carat gold during early trading on Friday morning was 153.13 riyals (40.82 dollars), and the price of a gram of 14-carat gold was 133.99 riyals (35.72 dollars), and for a carat (12) it was 114.85 riyals (30.62 dollars). (10) Record 95.71 riyals ($ 25.51)

Gold prices worldwide

Spot gold rose 0.3% to $ 1,906.15 an ounce, and US gold futures rose 0.1% to settle at $ 1,908.90 an ounce.

Trump said he would agree to making more than $ 1.8 trillion available for the White House stimulus linked to the coronavirus to strike a deal.

The dollar held on to its gains against rival currencies, supported by statements by US Treasury Secretary Stephen Mnuchin on Wednesday in which he said that the stimulus agreement will be difficult to reach before the elections.

Also supporting gold, weekly jobless claims in the US increased unexpectedly last week.

Gold, seen as a hedge against inflation and a weakening currency, has risen 25 percent since the start of the year amid unprecedented levels of global stimulus to cushion the impact of the economic blow from the pandemic.

As for the other precious metals, silver fell 0.4% to $ 24.19 an ounce, platinum rose 0.5% to $ 860.92, and palladium rose 0.2% to $ 2349.04.

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