Gold prices in Saudi Arabia today, Wednesday, March 3, 2021


Gold prices rose in Saudi Arabia during early trading today, Wednesday, March 3, 2021, in contradiction to the downward trend of global precious metal prices.

The price of a gram of 24 carat gold in the Kingdom was 209.30 riyals (55.81 dollars), compared to 206.53 riyals (55.07 dollars), yesterday.

The price of a gram of 21 carat gold (the most traded in the Kingdom) rose to 183.14 riyals ($ 48.84), compared to 180.71 riyals ($ 48.19) yesterday.

The price of an 18-carat gram increased to about 156.98 riyals ($ 41.86), compared to 154.90 riyals ($ 41.31).

Economic gold

The price of a gram of 14-carat gold in Saudi Arabia was 122.09 riyals ($ 32.56), compared to 120.48 riyals ($ 32.13).

An ounce and a pound of gold

The price of an ounce in Saudi Arabia jumped to 6,513.75 riyals ($ 1737), compared to 6,427.50 riyals ($ 1714).

The price of the pound rose gold (8 grams of 21 carat) to about 1,465.11 riyals ($ 390.70), compared to 1445.70 riyals ($ 385.52).

World prices

Gold prices fell to their lowest level in 8 and a half months, Tuesday, as the rise of the dollar and US Treasury yields undermined investors’ appetite for the yellow metal that does not yield a return.

Gold fell in the spot market 0.3% to $ 1717.99 an ounce by 0633 GMT, after tumbling to its lowest level since June 15 at $ 1706.70 earlier in the session. And gold in US futures fell 0.4% to $ 1716.10.

Gold prices today … “yellow” retreats against “green” gains

Michael McCarthy, chief market strategist at CMC Markets, said that the possibility of achieving a higher yield is pressing on gold, while the rise of the dollar is contributing to its decline, adding that the slight decline in the 10-year yield is “too little to be taken into account.”


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