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اليوم السابع
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Saudi gold prices fall below $4400
Gold prices in Saudi Arabia declined on Wednesday even though the international ounce fell below $4,400. The price of 24-karat gold was about 546 SAR, while 21-karat gold was approximately 475.50 SAR. This decline comes after gold surged nearly 9% since the beginning of August due to increased demand for the metal as a safe haven and reduced expectations of U.S. interest rate hikes. However, rising bond yields and oil prices due to geopolitical tensions have put pressure on the metal. The ounce remains close to the $4,393 level, which is considered a key support point, with the $4,375–4,350 range serving as an important support zone in case of any further correction.
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