Gold prices in Saudi Arabia continue today, Saturday, January 2, 2021, to rise, but slightly after a big jump recorded by the yellow metal globally at the end of 2020.
Global gold prices are heading to a steady increase following the decline of the dollar and high inflation rates in the United States of America, following the disbursement of a stimulus package to support the economy in the face of Corona, worth $ 900 billion.
Goldman Sachs expects that the price of an ounce of gold will reach a new record level of $ 2,300 during the current year 2021, in light of the continued decline of the dollar.
The price of a gram of 24 carat gold in Saudi Arabia, during the beginning of trading today, Saturday, was about 228.34 riyals ($ 60.87), compared to 228.23 riyals ($ 60.86) at the close of trading on Friday.
Regarding the price of a gram of 21 carat gold, the most traded in the Kingdom, it was recorded on Saturday morning about 199.80 riyals ($ 53.26), compared to 199.70 riyals ($ 53.25) on Friday.
The price of a gram of 18 carat gold in Saudi Arabia, when opening transactions today, Saturday, is at 171.26 riyals ($ 45.66), compared to 171.17 riyals ($ 45.65) at the close of Friday’s trading.
The price of a gram of 14-carat gold in Saudi Arabia, during Saturday’s trading, was about 133.20 riyals ($ 35.51), and the price of a gram of 12-carat gold was about 114.17 riyals ($ 30.44), and the price of a gram of 10-carat gold settled at the level of 95.14 riyals ($ 25.36).
The price of an ounce and a pound of gold
The price of an ounce of gold (an ounce) in Saudi Arabia, when opening trading today, Saturday, was at 7,121.81 riyals (1,898.60 dollars), compared to 7100.69 riyals (1892.97 dollars) on Friday.
Regarding the price of the pound of gold in Saudi Arabia (8 grams of 21 carat), it was recorded on Saturday morning, about 1,598 riyals ($ 426.01).