55 Mins
Source:
الاقتصادية
Saudi gold prices on September 30
Today in Saudi Arabia, gold prices experienced a slight decline across all purity levels compared to yesterday's prices, amid a global downturn that is heading towards recording a monthly loss due to expectations of interest rate hikes and their impact on the market. The price of a gram of 24-karat gold reached approximately 503.8 SAR (134.4 USD), while 21-karat gold was around 440.8 SAR (117.6 USD), and 22-karat gold about 461.8 SAR (123.2 USD). Gold bars weighing 10 grams traded at approximately 5,179.1 SAR (1,381.1 USD), 50 grams at around 25,542.5 SAR (6,811.3 USD), and one kilogram at 507,323.2 SAR (135,286.2 USD). Globally, the price of an ounce fell to 4,170.63 USD, as investors await U.S. inflation data, which will influence monetary policy expectations. Higher interest rates tend to reduce gold's appeal since it doesn't generate income.
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