Gold prices in Saudi Arabia rose, at the beginning of trading today, Friday, June 11, 2021, in conjunction with the rise in the prices of the precious metal globally.
And the price of a gram of 24 karat gold in Saudi Arabia, in early trading today, Friday, increased to about 228.95 riyals ($ 61.05).
Economic gold prices
The price of a gram of 21 karat gold in Saudi Arabia (the best seller in the Kingdom) rose to about 200.33 riyals ($ 53.42).
And the price of a gram of 18 karat gold in Saudi Arabia was about 171.72 riyals ($ 45.79).
As for economic gold prices in Saudi Arabia, 14 karat recorded about 133.56 riyals ($ 35.62).
Gold price per ounce and pound
The price of an ounce of gold in Saudi Arabia was about 7,121.25 riyals (1899 dollars).
And the price of the gold pound in Saudi Arabia (8 grams of 21 karat) was about 1602.68 riyals (427.38 dollars).
Globally, gold prices rose in trading Thursday after data showed that consumer prices increased more than expected last month, but led to an easing of concerns about the Federal Reserve reducing its monetary support.
And gold rose in immediate transactions 0.3% to $ 1893.75 an ounce (an ounce) by 17:43 GMT, after hitting its lowest level since June 4 at $ 1869.46 earlier in the session.
US gold futures were settled at $1,896.40 an ounce.
“The most important conclusion from the inflation data is that this market strongly believes that the US Federal Reserve will not change its position any time soon,” said Edward Moya, chief market analyst at OANDA.