Gold prices in Saudi Arabia decline on June 19

Gold prices in Saudi Arabia have experienced a new decline across all denominations, coinciding with a global drop in prices due to the strength of the US dollar and increased tension from the Federal Reserve, which has led to a decrease in the appeal of the precious metal. The price of a gram of 24-karat gold has reached approximately 498.3 SAR (132.9 USD), while a gram of 21-karat gold has been around 435.9 SAR (116.3 USD). Similarly, gold bars have seen varying increases, amid a 1.5% decline in global gold prices and the dollar soaring to its highest level in a year, which has put pressure on demand for the metal as a safe haven.

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