Gold prices jumped in Saudi Arabia during early trading on Friday morning, affected by the global rise of the yellow metal, which supported hopes of economic stimulus.
Investors are betting on the approval of a huge economic stimulus due to the increasing bets on the victory of Joe Biden in the close US election race, against US President Donald Trump, which won the dollar.
The price of a gram of 24 carat gold jumped in early trading on Friday morning to record 234.78 riyals ($ 62.60), compared to 228.35 riyals ($ 60.89) at the close of trading on Thursday.
The price of a gram of 21 carat gold, the best-selling in the Kingdom, rose during early trading on Friday morning, to 205.43 riyals (54.78 dollars) compared to 199.81 riyals (53.28 dollars) yesterday.
Regarding the price of a gram of 18 carat gold in Saudi Arabia, it also rose to 176.09 riyals ($ 46.95), compared to 171.26 riyals ($ 45.67) at the close of trading on Thursday.
Gold prices are low cost
The price of a gram of 14-carat gold in Saudi Arabia during morning trading today, Friday, was 136.96 riyals (36.52 dollars), compared to 133.20 riyals (35.52 dollars) yesterday.
The price of a gram of 12 carat gold came at the level of 117.39 riyals (31.30), and the price of a gram of 10 carat gold was recorded at 97.83 ($ 26.09).
The price of an ounce and a pound of gold
The price of an ounce in Saudi Arabia during early trading on Friday morning reached 7,297.06 riyals (1945.69 dollars), compared to 7103.57 riyals (1894 dollars) on Thursday.
And on the price of the pound of gold in Saudi Arabia (8 grams of 21 carat), it was recorded at the beginning of trading today, 1,643.44 riyals (438.21 dollars), compared to 1598.46 riyals (426.26 dollars) yesterday.