Gold prices in the Saudi market witnessed a slight decline during trading on Thursday, following significant gains the precious metal recorded yesterday, when it rose by 4 Saudi riyals per gram, before losing about 2 Saudi riyals of those gains today.
Gold prices decline
The price of a gram of 24-karat gold was recorded at 408.84 Saudi riyals in today's trading, compared to 409.35 riyals at the close of trading yesterday. The lowest level during the day was 407.11 riyals, with daily trading activity ranging between 407.11 and 409.35 riyals, i.e. a trading price difference of 2 Saudi riyals.
Gold prices in Saudi Arabia
Below are the gold prices in Saudi Arabia today, according to the different carats:
22 karat: 375.31 Saudi riyals
21 karat: 357.73 Saudi riyals
18 karat: 306.63 Saudi riyals
As for the selling prices in the Saudi commercial markets, they came as follows:
24 karat: between 418 and 430 Saudi riyals
22 karat: between 385 and 400 Saudi riyals
21 karat: between 367 and 380 Saudi riyals
18 karat: between 316 and 330 Saudi riyals
This price decline comes despite relative stability in global gold trading. Investors are closely monitoring global economic developments that impact gold's safe-haven appeal, particularly in anticipation of upcoming central bank decisions.
