Saudi gold prices on October 2
Gold prices in Saudi Arabia experienced relative stability today, amid a global decline in gold prices for the second consecutive week due to the rising dollar and U.S. Treasury bond yields. The price of a gram of 24-karat gold reached approximately 504.3 riyals ($134.5), while 21-karat gold was around 441.3 riyals ($117.7). Globally, the spot price of gold decreased by 0.6% to $4,154.78 per ounce. Investors are now awaiting U.S. employment data to gauge the trajectory of monetary policy, with only a 25% probability of a rate hike this month.
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