Gold prices fell slightly in Saudi Arabia, today, Sunday, affected by the fall in the prices of the precious metal in the world at the last close.
And Bank of America said Friday that investors strengthened their purchases of high-risk assets such as stocks, while withdrawing money from gold, which is considered a safe haven, as major breakthroughs regarding an anti-Corona vaccine provided hopes that economies may close to return to normal in 2021.
The price of a gram of 24 carat gold in the Saudi market on Sunday morning was 221.48 riyals (59.06 dollars), compared to 221.72 riyals (59.11 dollars) on Saturday.
As for the price of a gram of 21 carat gold (the best selling in the Kingdom), it was recorded at 193.79 riyals (51.68 dollars), compared to 194.01 riyals (51.72 dollars).
The price of a gram of 18 carat gold in Saudi Arabia was at the level of 166.11 riyals (44.30 dollars), compared to 166.29 riyals (44.33 dollars).
Gold prices vary in Saudi Arabia according to different regions and seasons, and the yellow metal continues to suffer from a variation in prices amid anticipation to provide the Corona vaccine in the markets, as well as optimism about a US stimulus package of 1.4 trillion dollars.
Economic gold prices
The price of a gram of 14-carat gold was about 129.20 riyals (34.45 dollars), and a gram of 12-carat gold was 110.92 riyals (29.57 dollars).
The price of an ounce and a pound of gold
The price of an ounce in Saudi Arabia was 6892.50 riyals (1837 dollars), compared to 6867.57 riyals (1830.85 dollars) on Saturday.
Saudi Arabia is preparing to announce the 2021 budget later this month, amid weights for Saudi websites, by announcing it next week.
Saudi Arabia is the largest Arab economy and the largest budget among the Arab countries, with total expenditures exceeding one trillion Saudi riyals (266.6 billion US dollars) in 2019, and since 2016 began implementing Vision 2030, which aims to reduce dependence on oil as a main source of income.
Last September, the Saudi Ministry of Finance published the features of the 2021 draft budget, and Al-Ain News obtained a copy of it at the time, with total expenditures exceeding 990 billion riyals (264 billion US dollars).
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