Gold prices in Saudi Arabia showed relative stability today, with 21-carat gold priced at 424.00 Riyals. Citizens and investors keenly follow price developments, especially with the impact of global changes on the local market. This comes amid market anticipation of any developments that could affect the price of the yellow metal globally and locally.

Gold Price Today in Saudi Arabia

UBS Bank has forecasted gold prices to rise to 4200 dollars per ounce in the coming months, as the opportunity cost of holding gold decreases due to lower real interest rates in the United States. Additionally, expectations of continued weakness in the US dollar generally act as another supportive factor for gold.