Gold prices increased in Saudi Arabia today, Wednesday, despite the decline of the precious metal in the world after doubts about progress in the US stimulus package.
The price of a gram of 24 carat gold in the Kingdom rose to 218.60 riyals ($ 58.28), compared to 215.37 riyals ($ 57.43) on Tuesday.
Gold prices differ in Saudi Arabia according to the different seasons and regions, and these prices are prior to calculating the “workmanship” of the seller.
Regarding the price of a gram of 21 carat gold (the most traded in the Kingdom), it rose to 191.44 riyals ($ 51.04), compared to 188.45 riyals ($ 50.25) on Tuesday.
The price of a gram of 18-carat gold was about 164.09 riyals ($ 43.74), compared to 161.52 riyals ($ 43.07).
Economic gold
The price of a gram of 14 carat gold increased to 127.63 riyals (34.02 dollars), compared to 125.63 riyals (33.50) yesterday, and the price of a gram of 12 carat rose to 109.39 riyals (29.16 dollars), and the price of a gram of 10 carat gold was about 91.16 riyals (24.30 dollars).
The price of an ounce and a pound of gold
The price of an ounce on the Saudi market was about 6,808.92 riyals (1815.16 dollars), compared to 6,699.15 riyals (1786.36 dollars) yesterday.
The price of the gold pound (8 grams of 21 carat) in the Saudi market rose to about 1531 riyals (408.28 dollars), compared to 1507 riyals (402.01 dollars) on Tuesday.
Globally, gold fell today, Wednesday, as caution dominated investors due to doubts about progress in the stimulus package in the United States, while reports of developments regarding the Covid-19 vaccine added pressure.
By 0505 GMT, spot gold prices fell 0.3 percent to $ 1808.67 an ounce after an increase of more than two percent on Tuesday, which was the biggest jump in nearly a month.
And gold in US futures fell 0.3 percent to $ 1813.30.
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