Gold prices stabilized in Saudi Arabia, at the beginning of trading today, Sunday, June 13, 2021, coinciding with the global market holiday.
And the price of a gram of 24 karat gold in the Kingdom remained at 226.30 riyals ($ 60.35).
The price of a gram of 21 karat gold (the best seller in the Kingdom) was 198.01 riyals ($52.80).
And the price of a gram of 18 karat gold in Saudi Arabia was 169.73 riyals ($ 45.26).
As for economic gold prices in Saudi Arabia, 14 karat recorded about 132.01 riyals ($ 35.20).
Gold ounce and pound
The price of an ounce of gold in Saudi Arabia was about 7,038.75 riyals (1877 dollars).
And the price of the gold pound in Saudi Arabia (8 grams of 21 karat) was about 1584.11 riyals (422.43 dollars).
Globally, gold prices fell on Friday (the closing of the week’s trading), affected by the dollar’s rise, at a time when some investors are betting that the recent rises in consumer prices in the United States are temporary.
And gold fell in spot transactions 0.9% to $ 1881.80 an ounce by 1407 GMT. US gold futures fell 0.7% to $1,883.30.
The dollar index rose 0.4%, which reduces the appetite for the metal for investors holding other currencies.
A commodity analyst at TD Securities said US employment and consumer price index data failed to push gold above the $1,900 level, suggesting that inflation hedge flows have slowed at the same time as present flows have been declining.
“As a result, gold will incur losses,” he added.