Gold prices rose in Saudi Arabia today, Monday, by 3 riyals, compared to Sunday’s transactions, with a strong start for the global price of the yellow metal.
The global precious metal has gained 25% since the beginning of 2020, as central banks and governments around the world have adopted economic stimulus measures, paving the way for high inflation and a decline in the currency’s value.
The price of a gram of 24 carat gold in Saudi Arabia, today, Monday, is about 231.49 riyals (61.73 dollars), compared to 229.05 riyals (61.06 dollars) on Sunday.
Regarding the price of a gram of 21 carat gold, the most traded in the Kingdom, it recorded about 202.55 riyals (54.01 dollars), compared to 200.42 riyals (53.43 dollars)
The price of a gram of 18 carat gold in Saudi Arabia, when opening transactions today, came at the level of 173.61 riyals ($ 46.30).
Economic gold prices
The price of a gram of 14 carat gold in Saudi Arabia is 135.03 riyals ($ 36.01). The price of a gram of 12 carat gold was about 115.97 riyals ($ 30.91).
The price of an ounce
The price of an ounce of gold (an ounce) was recorded in Saudi Arabia, when opening transactions of 7200 riyals (1920 dollars).
“We expect silver to outperform silver in 2021 on the basis of more favorable conditions due to the shift towards cleaner energy, which raises industrial demand, along with the expected economic recovery, which will benefit silver more than it does,” said Ole Hansen, analyst at Saxo Bank. gold”.
The rise of gold globally
Gold rose with the continued losses of the dollar today, Monday, to the metal heading to achieve the best annual performance in a decade supported by economic uncertainty and in light of the distribution of governments around the world huge stimulus to mitigate the impact of the Covid-19 pandemic.
And gold was traded in spot transactions, up 1.61% at 1925.70 dollars an ounce by 0548 GMT. US gold futures were settled, up 1.10%, to $ 1919.50.
And the precious metal has gained 25% since the beginning of 2020, as central banks and governments around the world have adopted economic stimulus measures, paving the way for high inflation and a decline in the currency’s value.
Gold that yields no return is a hedge against inflation, which is likely to result from unprecedented fiscal stimulus measures and ultra-easy monetary policies.
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