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اليوم السابع
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Gold in Saudi approaches record highs
Gold prices in Saudi Arabia rose significantly during Friday's trading, with the 24-karat gold price reaching approximately 541.25 SAR, the highest level in some time. This increase was supported by a rise in the global price of an ounce of gold, which exceeded $4,500 before a slight pullback. The surge was driven by falling U.S. Treasury bond yields and a decline in the dollar, following the U.S. Treasury's announcement of increased buybacks of long-term bonds. This move boosted gold's appeal as a safe haven amid concerns over U.S. financial stability and rising public debt. The $4,500 level per ounce remains a key benchmark for gold's movement, with ongoing support for prices to stay above the 4400–4500 USD range, despite the possibility of a temporary pullback due to profit-taking.
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