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اليوم السابع
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Saudi gold prices fall amid rate and dollar pressures
Gold prices in Saudi Arabia and the Gulf have declined due to the ongoing impact of U.S. monetary policies, as markets have increased their bets on continued monetary tightening. This has supported the dollar and pushed bond yields higher. In Saudi Arabia, the price of 24-karat gold stood around 537 riyals, 22-karat at about 492 riyals, 21-karat approximately 470 riyals, and 18-karat roughly 403 riyals during Monday's trading. After the ounce declined from nearly $4,700 last week, the market anticipates a reassessment as downward pressure persists, with the range of $4,400–$4,450 considered a key support level, while prices need to rise above $4,500 to ease the pressure.
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