Gold prices in Saudi Arabia today, Sunday, October 18, 2020

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Economy

Al Ain News
Gold prices in Saudi Arabia increased slightly in early trading Sunday morning, at a time when global prices for the precious metal are declining after the rise of the dollar.

The price of a gram of gold in the Kingdom of 24 carat was about 229.20 riyals (61.12 dollars), compared to 229.07 riyals (61.09 dollars) on Saturday.

As for the price of a gram of 21 carat gold, it was recorded about 200.56 pounds ($ 53.48), compared to 200.44 pounds ($ 53.45), yesterday.

The price of a gram of 18 carat gold was about 171.90 riyals ($ 45.84), compared to 171.81 riyals ($ 45.81).

Gold fell at Friday’s close, heading towards its first weekly loss in three weeks, while the dollar held on to its rally while providing more fiscal stimulus in the United States seemed unlikely before the presidential elections.

In spot transactions, gold fell 0.2 percent to 1,903.24 dollars an ounce by 0631 GMT, losing 1.4 percent since the beginning of this week. US gold futures slipped 0.1 percent to $ 1,907.50.

Globally, global investors withdrew nearly $ 26 billion from monetary funds over the past week and pumped $ 17.6 billion into bonds and another $ 8.6 billion into stock markets, and the third-largest amount ever in mortgage-backed securities.

With the money in everything, Bank of America said that investors have also poured $ 1.2 billion into gold funds. Mortgage-backed securities recorded inflows of $ 1.8 billion.

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