Gold prices increased in Saudi Arabia during early trading on Sunday morning, slightly, compared to Saturday’s trading
According to dealers, the average price of a gram of 24 carat gold in the Kingdom was 229.39 riyals (61.17 dollars), compared to 229.2 riyals (61.12 dollars), 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 that ended, as expectations of an eventual US stimulus package offset the impact of the pressures imposed by the strong dollar.
There was no significant change in gold in immediate trading at $ 1,903.36 an ounce by 0631 GMT, after dropping more than 1% in the previous session, and US gold futures rose 0.01% to $ 1905.80.
“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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