Saudi Arabia gold prices Sunday 2/8/2026
The article reviews the stability of gold prices in Saudi Arabia today, Sunday, August 2, 2026, with trading halted in the global stock exchange due to the weekend holiday. Last July, the price of an ounce of gold traded above $4,040, supported by market anticipation of the U.S. Federal Reserve's decisions regarding interest rates and the Chairman's statements on combating inflation. The movement of global gold prices, which remains steady near $4,045 per ounce, influences the local market amid energy market volatility and geopolitical tensions that enhance the appeal of gold as a safe haven. Prices for various gold karats range between approximately 365 to 488 Riyals per gram, while the price of a gold pound is around 3,413 Riyals. It is expected that gold prices will remain above the $4,000 benchmark per ounce, with a possibility of surpassing the $4,100 resistance level if the upward trend continues globally—based on the outcome of the U.S. Federal Reserve meeting and the expectation that interest rate hikes may pause in September.
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