Gold prices in Saudi Arabia showed relative stability today, with 24-carat gold priced at 487.50 Riyals. Citizens and investors closely follow price developments, especially with the impact of global changes on the local market. This comes amid market anticipation of any developments that might affect the price of the yellow metal globally and locally.

UBS Bank has forecasted that gold prices could rise to $4200 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, the expected continued weakness of the US dollar is another supportive factor for gold.