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Gold prices rise today in Saudi Arabia reaching 501 riyals for 24-karat gold

Gold prices rise today in Saudi Arabia reaching 501 riyals for 24-karat gold

Today, gold prices in Saudi Arabia saw an increase across all denominations. The price of a gram of 24-karat gold reached approximately 501.1 SAR ($133.6), while 21-karat gold traded at 438.4 SAR ($116.9), and 22-karat gold hit 5150.8 SAR ($1373.5). Gold bars weighing 10 grams of 24-karat gold were priced around 4992.1 SAR ($1331.2), 50-gram bars at 25403.1 SAR ($6774.2), and a one-kilogram bar reached 504,555.1 SAR ($134,548.1). Globally, gold prices increased by 0.5% to $3,988.20 per ounce. However, they have declined by 3.2% since the beginning of the week, due to rising tensions in the Middle East and their impact on oil markets and inflation, despite renewed hopes of a potential increase in US interest rates.

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